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OpenMoko is a linux based OS that is being developed for many (potentially) models of phones.  It has the potential of making a hackers dream phone a reality

Today marks the launch of openmoko.com the corporate site for the openmoko project. If you didn't know already the openmoko is a new cell phone designed from the ground up in an open manner. All the hardware is designed in an open manner and the software on the phone itself is gnu/linux.
Previously only the community oriented openmoko.org site was live but this did not allow actual purchase of the Neo1973 phone. (The first phone openmoko will run on) Today anyone can go to the openmoko.com store and purchase a Neo1973 phone running openmoko. The phone is initially aimed at developers and is not quite ready for mass consumption.
The Neo Base model retails for $300 US, and the Neo Advanced is $450 US. They are not tied to any network and will function on any GSM provider.
This hopefully will provide some competition to Apple's latest creation, the iPhone.

 

 

Link: http://linuxupdate.blogspot.com/2007/07/openmokocom-goes-live.html

 

OpenMoko is an Open Source project to create the world's first free mobile phone operating system.

The OpenMoko project is a community that anyone can join, to help design their ideal phone.

The long term goal is that phone software won't be tied to a phone. You can install any OpenMoko software over the whole range of phones, and if you upgrade your phone, you don't lose the software. Bugs fixed on one phone are fixed on all.

Currently it is not suitable for users. The state of the software at the moment is pre-alpha. If you order a Neo1973, DO NOT expect to be able to use it as an everyday phone for several months.

The Neo1973 from FIC is the first of many phones that OpenMoko will run on. It can be purchased from the Openmoko Online Shop. To show that OpenMoko the phone stack is not tied to the Neo1973, here is a report from somebody who seems to have OpenMoko up and limping on the Palm Treo680

 

Link: http://wiki.openmoko.org/wiki/Main_Page

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Forge42

This is HUGE news IMHO. This little phone has unlimited potential... I can't wait to see what folks start cooking up for it.