Google has released their much ballyhooed “Android” mobile phone development kit and open source operating system, as well as this video that explains what all the fuss is about. Google hopes the platform will let developers easily create applications (with third generation wireless broadband content in mind, thank you very much) that will allow their new mobile OS to flourish.

The company today also announced the $10 million Android developer challenge, which will shell out $10 million to developers with innovative ideas. Google’s goal is to see commercially deployed handsets and services using the Android platform by the second half of next year. They’re in talks with a multitude of wireless partners, and deals should be announced shortly.