Nicole said she won't renew her contract with DSP. Jiyoung is deciding between her singing career and her studies while Hara, Gyuri and Seungyeon have all renewed their contract. There are rumored reasons that Nicole didn't have any individual activities excluding being an MC for a music show while the other members got to go on variety shows and all that. There is no official reason though.
Kara will still continue as a 4 (or maybe three is Jiyoung ends her contract) member group and Kara will not be disbanding. I think... Well, it said that on allkpop.

I haven't heard much either, except that she might be going solo. :/

Wut?!? O_O

i heard that she might be going solo

Nicole is not going to be in Kara

I know Nicole won't renew her contract but it didn't specifically say if she was gonna leave the group. I'm kinda confused too :/ I'm hoping to hear a statement from her to know for sure. But I do know that Jiyoung will either leave or take a hiatus because she wants a break and she wants to study abroad.

DSP said that KARA will not disband but they will promote as four or three members, "Even if some members leave without renewing their contracts, the team itself will not be disbanded and will continue to promote domestically as well as overseas."

wait
what happened?

Kara may disband because Nicole didn't resign her contract.