Facebook is finally phoning home with an integrated HTC smartphone code-named “Buffy,” (as in vampire slayer, not songbird Sainte Marie). Buffy will operate on a modified version of Android that supports HTML5 as an applications platform, and it’s still 12 to 18 months out, as first reported when TechCrunch broke this story over a year ago.

“Although it has changed scope and leadership, Buffy has been an ongoing area of concern at the social networking giant for the past two years. These days, the project is led by Facebook CTO Bret Taylor,” reports AllThingsD.

“Our mobile strategy is simple: We think every mobile device is better if it is deeply social," a Facebook spokesperson comment to ATD. "We’re working across the entire mobile industry; with operators, hardware manufacturers, OS providers, and application developers to bring powerful social experiences to more people around the world."Continue reading...

In a blow for Twitter as it turns five, Bollywood star Shah Rukh Khan switches loyalty to Facebook, while USPTO denies site's application to trademark "tweet" (again). Still, even though Facebook “likes” may be more profitable than tweets, Twitter may still prevail.

Digg cofounder Kevin Rose steps away, prompting speculation that it has failed.

Dropbox could generate $100 Million in revenue this year.

Tumblr security breach exposes sensitive information.

Zynga launches rewards program to increase user loyalty.

South Carolina bill targets prisoners on Facebook.

And (surprise!) kids are lying about their ages to get online and use social networks.

Below, find out what Foursquare's Dennis Crowley thinks is "pretty hot."Continue reading...

Comcast's acquisition of NBC Universal is approved (with one FCC commissioner, Michael Copps, opposed). Conditions for the deal, expected to close by Feb. 1, include that Comcast must give up its management role at Hulu, and abide by anti-favoritism clause — a victory for Bloomberg TV and other networks that compete with Comcast and NBCU's channels. Comcast, separately, just invested $10M in Snagfilms, an ad-supported documentary site that owns INDIEwire, and led a $9M financing round in e-publishing consultancy Perfect Market.

Apple announces record quarterly earnings of $6B, with 7 million iPads sold during the Christmas quarter. The iPhone is now the UK's "most desirable" brand.

Citigroup "disappoints" despite quarterly profit of $1.3 billion.Continue reading...

The impact of BP's oil spill clean-up on its brand was our most-viewed story this week. Check out our BP coverage and the rest of our most popular stories this week:

BP's Brand: Is the Damage Done?

The Big Apple: Less Salt, More Fulfilling

Around the Web: iPad 3G + HTML5 + Batman 3

Polaroid 300: Get Yours in Gaga Red

Audrey Hepburn Auction Honors Charity

Questions Hover over Hermès

Iron Man 2's Marketing Tie-In Bonanza

Jamie Oliver Tips Chef Hat to Big Mac

PGA in the Rough After Logo Flap

Latest Tylenol Recall Recalls Past Crisis