Valleywag realizes that Google will not likely do phone hardware themselves. Whatever. As long as it supports the software, hopefully some shiny Mobile Google OS, we're interested. Either way, this is what the WSJ and Reuters said today:
•"Now it is drafting specifications for phones that can display all of Google's mobile applications at their best, and it is developing new software to run on them. The company is conducting much of the development work at a facility in Boston, and is working on a sophisticated new Web browser for cellphones."
•Google has invested hundreds of millions on the project.
•Google has also developed prototype phones, with partners like LG Electronics.

• "ads in the mobile phone is that they are twice as profitable or more than the nonmobile phone ads because they're more personal" says Eric Schmidt (from AllthingsD)
•In Europe, T-Mobile and Orange are believed to be partners. Verizon rejected their plans in the US because they wanted to share ad revenue.
•Taiwan's High Tech Computer Corp to design a Linux software-based phone for launch in the first quarter of 2008

Google is said to have a new service for mobile phones in the works - with its help the users will be able to find and also buy ringtones, games and other content for their gadgets. While the mobile version of Google search engine has been around for quite some time, now the company wants to go even further and come up with an effective system of access and purchase of mobile content.

The new service by Google will operate as follows: upon request, the user will receive an individual list of content-provides, including links where he can get ringtones, games and so on. At present Google is cooperating with a number of companies in an effort to classify the provided data and make it searchable, also they have integration with Gmail in mind. The new Google's search engine will be reminiscent of Google Product Search (Froogle) - price comparison system.