The Facebook phone is allegedly being made by HTC and will run off Android, Google's operating system. It will be cloud-centric and make heavy use of location-based services.
Gadget mag T3 picked up some exciting insider goss earlier today: "The Facebook phone is unlikely to have any local storage, with all your contacts, music and data stashed in the cloud. What's more, location aware coupons will tap into an always-on GPS service, offering you vouchers for stores which you've told Facebook you're interested in."
Expect Facebook's new Messages system to be central to the way the phone lets you communicate, meaning your texts, emails and Facebook private messages will run through Facebook. Messages will apparently be central to the homepage. According to City AM's tip-offs, you'll be able to call and email friends using info stored on their Facebook page.
Web whispers elsewhere predict the phone will arrive in a dazzle of Facebook blue, embossed with the $50bn-dollar business' logo.
HTC and Facebook have both declined to comment, though HTC is beefing up its marketing team at the moment.
But the phone would hardly come as a surprise. Commentators have long predicted a Facebook phone. And as Facebook steams forward with its 500 million users (and growing), why wouldn't it want to cement its position in the mobile market, one of the fastest-growing and most lucrative consumer and tech trends? It's made a blatant push for mobile - you only need to look as far as the Facebook homepage, pictured above, to see that.
Facebook's brand kudos and social media dominance will no doubt have consumers falling over themselves to snap up its latest product offering. But it will give the company unprecedented access to our personal information - though, then again, no more than Google's, especially with the Android.
Do we care how much personal data Facebook or Google has access to? Or is this just sensible business we needn't be cynical about? Leave your thoughts in comments below.