Google's news conference to be held at its Mountain View, California, headquarters today, January 5, would likely be the ideal platform for the unveiling of Google's own Android-based smartphone - Nexus One.

As per reports, the forthcoming sleek, touch-screen Google handset, which the Internet search biggie intends selling directly to the customers, has been manufactured by the Taiwanese electronics firm HTC, and reportedly works with GSM wireless technology.

Going by the reports from Engadget and other tech blogs, the Google smartphone will boast a speedy 1-gigahertz processor; a 4-gigabyte SD flash card to facilitate storage of programs and media files; and a track ball for navigation.

Google will likely offer the customers two purchase options for its Nexus One - the device will either be available for $180 with a two-year T-Mobile contract; or for $530 without a contract.

In the opinion of most analysts, the Google Nexus One will not only attempt to challenge the growing popularity of the Apple iPhone, but will also help Google widen the appeal of its Android technology.

Noting that 'Nexus One' highlights Google's attempts to push the mobile phone industry towards growth, Vic Gundotra, Google's VP of engineering, said: "We are incredibly excited about the opportunities that we see in mobile. We have invested a considerable amount, and we can now really provide a compelling mobile experience."