Google Chrome OS is an open source, lightweight operating system that will initially be targeted at netbooks. Later this year we will open-source its code, and netbooks running Google Chrome OS will be available for consumers in the second half of 2010.
Speed, simplicity and security are the key aspects of Google Chrome OS. Google Chrome OS is a new project, separate from Android. Android was designed from the beginning to work across a variety of devices from phones to set-top boxes to netbooks.
Operating systems that browsers run on were designed in an era where there was no web. So today, Google is announcing a new project that's a natural extension of Google Chrome — the Google Chrome Operating System. It's Google's new attempt to re-think what operating systems should be.
Via : Introducing Google Chrome OS