Once more unto the breach dear friends. According to several reports, the mighty Facebook will re-enter the smartphone race which it so desperately failed at last year.

Remember the HTC ChaCha? Us neither.

Reports says that Facebook is on the lookout for software and hardware developer to take its dream of creating a Facebook phone into reality. The rumours started flying around after Google acquired Motorola Mobility for the sweet sum of US$12.5-billion.

Since 2010, Facebook has been reportedly been working on an internal smartphone project. So its not the first time that Facebook’s tried to push a phone into the market, but will it succeed this time round?

Facebook’s plan is to expand team Buffy, which is the codename of its previously failed smartphone efforts. It’s neither confirmed or denied the existence of a new phone, and instead says “We’re working across the entire mobile industry; with operators, hardware manufacturers, OS providers, and application developers.” The social network has also reportedly brought in former Apple employees who worked on the iPhone.

There’s no news on the hardware or software classifications of course. Let’s pray that the damnable dedicated Facebook button will be left off the phone this time.