After many months of speculation, the first Google Android-powered mobile device has finally been announced: the T-Mobile G1, also known as HTC Dream. The G1 targets both the iPhone and the Blackberry - with touchscreen functionality and a slide-out QWERTY keypad - and will be the first phone to provide access to the Android Market.

Specs include built-in support for T-Mobile's 3G (HSDPA) and EDGE networks as well as Wi-Fi, 3MP camera, a full HTML web browser, pre-installed 1GB microSD memory card, and one-touch access to popular Google applications including Google Maps Street View, Gmail, YouTube and others. The G1 will be available at T-Mobile retail stores beginning October 22 for $179 plus a two-year voice and data agreement. The iPhone certainly got the ball rolling, but will Google's Android take things to the next level? Time will tell.