As a number of mobile manufacturers gear up to battle the dominance of BlackBerry and Apple Inc. (Nasdaq: AAPL), the big newsmaker has been Google (Nasdaq: GOOG)'s new phone, the Nexus One, along with Android, the new open mobile OS from Google. Google's entry into the smartphone market is likely to pressure a wide range of electronics manufacturers and transform the market.

The introduction of Android, and the fact that Google is pushing its own phone in this market, means the smartphone market -- which still represents only 17 percent of mobile phones overall -- is going to accelerate with new competitive juice. It also means that Google is going to work very hard on building up the apps platform for Android. Mobile smartphones are going to become the most powerful and fastest spreading devices on the planet. Applications will be a key weapon in Google's arsenal as it aims at its chief competitor, Apple.

To read the rest, including a complete breakdown of Nexus One's features vs. the Apple iPhone's, go to Internet Evolution.

— R. Scott Raynovich is an independent trader and investor and the editor of The Rayno Report, a Website dedicated to discovering important investment trends and anomalies in the 21st century.