Google and Verizon entered into a joint venture to co-develop handsets and other services by using Google's Android operating software. The mobile phones will be offered through Verizon's wireless network and Vodafone Group. It is expected to be launched in the next couple of weeks.

These mobile phones will include pre-loaded applications from Verizon and Google as well as by third party developers. The handsets will be offered by leading mobile phone manufacturers but names of those companies are not disclosed yet.

Google's aim is to expand its existing presence in the wireless market and replicate the dominance it has on internet search engine. Verizon has an existing customer base of more than 87 million customers and it could represent a successful breakthrough for Google to tap into that market.

Eric Schmidt, Google CEO, stated: "The Android platform allows Verizon Wireless customers to experience faster and easier access to the Web from any location."

The main motive behind this product is to sell targeted advertising on mobile phones, which is widely believed to be the next big frontier in advertising.

Taiwan's HTC and Motorola already make Android phones, whereas, Samsung and LG are also expected to follow the trend.