The social networking giant, Facebook has tied-up with Taiwan-based HTC to create a smartphone with Facebook's own version of the Android operating system. The phone is expected to arrive by mid 2013. Earlier there were reports of the smartphone being launched this year.
Reports suggest that there is an upsurge in people using Facebook on their mobile phones in comparison to their computers. This trend has been seen progressing over the past couple of years after the launch of Facebook apps on almost all mobile phones. 
Codenamed Buffy, Facebook has remained tight lipped about its mobile project. Previously, HTC launched it ChaCha with a dedicated Facebook button but this time the Facebook phone will have social networking at its core. After acquiring Instagram, Facebook introduced the Facebook Camera. So, the eight-year-old Harvard dormitory room company is seriously baking several cakes in its home grown oven and no one knows much about the Project Buffy as it is even speculated that Facebook is "going door-to-door to find the right talent for the project".
It's worth mentioning here that Facebook reported a drastic slowdown in revenue growth. The company's share fell to a record low and posted a net loss of $157 million due to hefty stock compensation charges related to its IPO.
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