Google has announced Android, an open source Linux operating system designed to be very customizable by programmers. This isn't the GPhone, the long-rumored Google Phone. Google is not making any of the actual phones, just the software. Android joins the ranks of myriad Linux development attempts: the new pro-sumer Palm OS, Access Linux Platform, Trolltech's QTopia, OpenMoko, and others in Asia that are unknown to me.
I don't know if this one will be more successful than the others, and they haven't announced what it looks like, or what it will do. They just announced the software license and that it exists, or that it should in late 2008... but expect a bunch of publicity all over the place anyway. What I do know is that this effort will have a lot of money behind it.