Facebook Phone Event: Live Blog
1:07 P.M.: Zuckerberg says we spend 20 percent of time on phones on Facebook—closer to 25 percent if you include Instagram.
Zuckerberg says instead of making your phones about apps first, make them designed around people first.
1:05 P.M.: Zuckerberg takes the stage.
"We're going to tell you how you'll be able to turn your phone into a great social phone."
We talk a lot about "open" and "connected," he said.
12:55 P.M.: About 350 people are expected to be here for Facebook's Android announcement, more than were here for Facebook's launch of graph search or its new News Feed.
I spotted Paul Jacobs, Qualcomm's CEO, heading into the presentation. Qualcomm powers HTC phones, which will be used to showcase the new technology, so it makes sense that he's here. We asked if he could come on CNBC to discuss the new software, but unfortunately he said he'd be taking off right after the event.
Editor's Note: Facebook is about to make another big mobile push.
The social giant is hosting a media event Thursday at its company's headquarters in Menlo Park, Calif. where it is expected to unveil a HTC mobile phone that integrates the Facebook platform into the Android OS.
Facebook is hoping its mobile move will help it cash in on more advertising dollars.
However, while the company's mobile efforts are commendable, it's still unclear if the Facebook phone announcement will live up to the hype, said Eric Jackson, Ironfire Capital founder and managing member.
( Read More: Will the Facebook Event Live Up to the Hype? )
The event begins at 1:00 P.M. ET. CNBC's Julia Boorstin is reporting live from the event and will be sending updates. Check back here for more.