by InvestorPlace Staff | May 29, 2012 10:58 am
According to The New York Times, it looks like Facebook (NASDAQ:FB) is developing a smartphone. And it could hit the market by next year.
Already, Facebook has snagged a variety of top Apple (NASDAQ:AAPL) engineers who created the iPhone and iPad. The focus has been on getting people who understand that intricacies of hardware development.
By not controlling its own mobile platform, Facebook has been at a disadvantage. For example, Apple integrated Twitter in its iOS but not Facebook. Might Apple take other moves to blunt the progress of Facebook?
Also, the smartphone business has proven to be brutal as seen with the implosions of Research In Motion (NASDAQ:RIMM) and Nokia (NYSE:NOK). At the same time, other tech companies have tried and failed to enter the market, such as Hewlett-Packard (NYSE:HPQ), Dell (NASDAQ:DELL) and Sony (NYSE:SNE).
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