So far there have been quite a few rumours concerning Google’s latest baby, the Nexus One smartphone. It has been said it will challenge the likes of the iPhone, BlackBerry, Palm and Motorola, and will be a game changer reports an article over on The Street.

There have been rumours about the Nexus One will be a VoIP phone and that the handset will be unlocked from the outset, and yet apparently even though the rumours are many, Google’s stock price hasn’t seen a life as it appears investors are waiting for details.

The article says that Google’s track record is phenomenal when launching widely successful products; however with the Nexus One is a different project where Google’s success is “irrelevant.”

Google’s former hits with the likes of Chrome and Gmail and their search algorithm are software apps with no physical parts, and the intro of the Nexus One is a different undertaking.

Selling the Nexus One without subsidy could prove difficult although it has been suggested subsidy would come via digital advertising, but then users would need to decide whether an advert filled handset is worth the freedom of not opting for a contract handset.

Then there’s the fact that 2009 has seen many handsets released and none have managed to unseat the dominance of the iPhone. So far there is nothing that suggests the Nexus One will be any better than the likes of the Motorola Droid and others, and although the Nexus One may well be innovative the iPhone still carries the crown.