Will the Facebook Smartphone Be a Reality This Year?

Mark Zuckerberg
Getty Images
Mark Zuckerberg

Facebook and HTC are reportedly working together to develop a customized smartphone which could be released as soon as the third quarter of 2012, according to a new report.

The Facebook smartphone is expected to run on the Android platform and integrate all of the social networking giant's functions.

HTC first worked with Google in launching the Nexus One before Google moved on to work with Samsung as its production partner.

Rumors of a Facebook smartphone surfaced in 2010, but CEO Mark Zuckerberg shot down the rumors, claiming that Facebook was not trying to compete with Apple , Droid or other hardware manufacturers.

The news of a Facebook smartphone comes just weeks before Facebook's expected initial public offering.Valuation of the company is expected to be north of $100 billion.

Facebook could not be immediately reached for comment.

email: tech@cnbc.com