Smartphone running 'Facebook OS' said to debut next week

Investors have often criticized Facebook for being slow to adapt to the transition from desktop to mobile. An own-branded phone would serve to demonstrate that Facebook is pushing all its chips forward to become a mobile-first company.

What's more, Facebook's messaging and camera apps will reportedly form the core functions of the phone, rather than the stock Android ones. The phone's primary contacts list will presumably be the user's Facebook friends, too.