So it's finally out now.
That FB is rolling out an app should have been known. They don't have a tie-up with phone manufacturers nor right now have the fire power to come up with an OS tough enough to beat the likes of Android and Apple Inc.
The app is named FB Home and it will be available on Android's Play Store. The app will integrate in the phone such that it will merge the users in the social networking medium.
The Home app acts like a medium between Android and the end-user. That is a neat idea to woo the users and the shareholders without going through much fuss of creating a phone or an OS. In my opinion, it seems unlikely that people will live long enough with the trademark white and blue styles and themes. However, this will get clear only when the app is launched by the Google Giants.
Another point is that will Android in its all consciousness block the FB Home from the Play Store, considering it's a rival in the tech world. If they do block the app, it will create negative vibes for the Google profit holders and make a bad impression for themselves. Google won't do that considering the intention that openness is a key characteristic Android thrives on. FB might play with the risk of publishing ad content depending upon user's choice, to generate more revenue. It's not necessary though because FB would just want to up their visibility on the OS stage as of now.
It has been so far so good for FB. Rest depends on Google :)