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After the successful launch of iPhone and G1 from Apple and Google, it seems like Facebook will be following suit with the launch of its very on mobile phone. The rumored facebook phone would be launched by Hong Kong’s Hutchison Whampoa Ltd through its new handset unit INQ Mobile.

Frank Meehan chief executive of INQ in an interview to Forbes as has said that a price tag of less than $200 and tight integration of INQ1’s contacts book with popular social sites like Facebook would give the phone an edge over competing offerings from Nokia and Apple.

According to Julie Ask, Jupiter Media Analyst:

The phone’s target market was relatively small, consisting of people "who want to be connected to their social network multiple times a day”. It’s going to generate a lot of buzz and it’s going to set a bar for what mobile social network experience on a phone should be.

However some figures tell that about 13% of US phone users have accessed social sites on their phones, which gives the phone a pretty big market.

[via Forbes]