Facebook Phone: Fact or Fiction?

http://www.cnn.com/2010/TECH/social.media/09/20/facebook.phone/index.html?iref=allsearch

Facebook has long denied that it's "building" a mobile phone, however that doesn't mean that they're not in the works to plan out the development of such a mobile device. Given the failure of Microsoft's KIN phone with its discontinuation only 6-weeks after it was launch, why would Facebook want to venture out into developing a social networking phone?

One thing I absolutely love about my iPhone is that it gives me immediate access to my treasured networking site, Facebook, while allowing me to have direct access to email, the web, and hundreds of other apps. I'm not certain what purpose the Facebook phone will serve as a standalone, which is why it's looking to partner with Samsung or HTC would build the hardware for an Android-powered phone that would have Facebook's social-networking features deeply integrated. But really, are we in a day and age where we need a dedicated phone to "poke" our friends and immediately untag unflattering pictures of ourselves before anyone has the chance to see them? I think Facebook should learn from Microsoft's failure of the KIN and completely pull out of this venture before facing a similar fate.