HTC CEO Peter Chou recently stated that HTC will build an Android device for China Mobile, one of the biggest carriers in the world. The HTC Ophone (no, not that one) is a re-branded HTC Magic with highly customized software from China Mobile. The brand Ophone is supposed to represent the Openness of Android and assumedly less abstract than that of the 'Magic' moniker. There's been speculation that the 'Ophone' brand for China Mobile will eventually represent all Android devices.
The price has not yet been set but early reports point at a 5,000 yuan ($730) price range. The HTC Ophone should be available next month.