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Mark Zuckerberg, the founder of Facebook denied that the company is planning to develop a phone. He added that developing a phone will be the wrong strategy for the company.

Speaking to the audience during a conference in San Francisco, Zuckerberg dismissed speculations that Facebook was planning to launch a phone by next year.

According to a report in the Telegraph, Zuckerberg accepted that mobile phones are important to Facebook's growth but added that launching its own smartphone would not attract enough users to make it worth the effort.

He admitted that the world's largest social networking site made a mistake by depending heavily on HTML5 for its app rather than using native apps.

Zuckerberg added that users of Facebook's new iOS app are reading twice the number of feeds as before. He also said that the company plans to add the native Android app to its mobile strategy after iOS and mobile web, and users can expect one soon.