The new handset from the Taiwanese mobile phone maker will become the company's latest flagship offering and build on Google's efforts launched just 1 month ago.
Previously known within rumour circles as the HTC Bravo, the new phone, called the HTC Desire, will sport virtually identical specs to the Nexus One however won't have active noise cancellation or voice to text entry capabilities.
That means you'll get a 3.7-inch (diagonal) WVGA, AMOLED touch-widescreen and 5-megapixel camera with LED flash.
If that wasn't enough to get you giddy with Android love, the HTC Desire will come with the latest Android 2.1 build, multitouch as standard to pinch to zoom, Flash Lite 4 for viewing videos on the Web and the new Sense UI from HTC that brings an array of new tricks to the party.
Features include a "helicopter view" known as Leap, that by pinching the screen will display all the home screens so you can access them quickly in a similar way to Apple's Expose feature on Mac OSX.
Desire users will also get a new app that combines Twitter, Flickr and Facebook feeds into one queue, called Friendstream, allowing users to easily manage their social networking life. There isn't currently support for Google Buzz.
Expected in Q2 in the UK, there is no confirmation that this handset will be heading to the US. HTC is also currently staying quiet on which operator will be stocking it when it does land in Great Britain, but Vodafone has appeared on stage at the press event, suggesting they are a dead cert. HTC boasted that "virtually every" mobile operator has signed up for the Desire.
We will be bringing you a hands on gallery and "official" images when they are released by HTC, in the meantime read our HTC Desire First Look review of the new handset where we had a sneak peek before the official announcement.
We will keep you posted.