The mobile market won't see a Googlephone for now, but Google is still bent on making an impact on the mobile industry. The internet giant will be trying to develop easily accessible applications on mobile phones, and provide an open-source mobile phone operating system to let third-party software developers go crazy in making applications for Google-optimized phones.

Google already approached a number of mobile phone manufacturers and conferred with them about the production of handsets specifically made compatible for the use of Google software, like the ever-useful Google Maps, Gmail and YouTube, among others.

However, since the internet mogul is planning on releasing an entirely open platform mobile operating systems, there is the issue of privacy as well as data security - two pressing matters that should be addressed.

Will Google be able to push through with their ambitious project? Only time can tell.