Facebook tries again at smartphone after botched IPO
Facebook CEO Mark Zuckerberg at the Facebook f8 conference in San Francisco, Calif., on Sept. 22, 2011.
Facebook employees, several engineers who have been sought out by recruiters for the company, and those briefed on Facebook’s plans, say the company hopes to release its own smartphone by next year, according to the New York Times.
The sources spoke to the Times on the condition of anonymity. The Times said some half a dozen of those hired are former Apple software and hardware engineers who worked on the iPhone, and one who worked on the iPad.
This would be Facebook’s third effort at building a smartphone, according to the paper.
Competitor Google recently acquired Motorola Mobility for $12.5 billion, which could help it create its own smartphone, the Associated Press reported.
The news comes as Facebook scrambles to move forward as the company and its IPO underwriters continue to face allegations they gave an unfair advantage to preferred clients.
More from GlobalPost: Facebook stock declines, Morgan Stanley, Nasdaq under fire
Facebook's stock, which opened a week ago, Friday at $42.05 and fluctuated between $45 and $38 throughout the day, closed for the Memorial Day holiday at $31.91.
More from GlobalPost: Facebook stock experiences a volatile first day on the market
The article you just read is free because dedicated readers and listeners like you chose to support our nonprofit newsroom. Our team works tirelessly to ensure you hear the latest in international, human-centered reporting every weekday. But our work would not be possible without you. We need your help. Make a gift today to help us raise $25,000 by the end of the month and keep The World going strong. Every gift will be matched 2:1!