Facebook Inc CEO Mark Zuckerberg
Zuckerberg, CEO of Facebook (Nasdaq: FB) said the company was moving to the mobile era.Beck Diefenbach/Reuters

At a time when Apple's recently unveiled iPhone 5 took centre stage in the technology world, media is abuzz with rumours about the possibility of a Facebook Smartphone launch.

Facebook Inc Chief Executive Mark Zuckerberg dismissed the chances of releasing a Facebook mobile saying that developing a mobile would be the "wrong strategy" to adopt. Zuckerberg on Tuesday was addressing a conference in San Francisco organized by TechCrunch.

According to The Telegraph report, the Facebook founder accepted that smartphones are important but denied rumors that the company will release its smartphone in the coming year. He said building a phone would not attract consumers.

However, Zuckerberg admitted that the heavy dependence on HTML5 for its new iOS app rather than on native apps was a mistake on the part of the world's most popular social networking site.

"The biggest mistake we've made as a company is betting too much on HTML5," he said.

On a positive note, he also put forward the possibility of a boost in advertising revenue, with users of Facebook's app being fed twice the number of stories than earlier.

The Telegraph quoted Ben Evans, an analyst with Enders, who accepted Zuckerberg's views on Facebook mobile.

"I think brand specific hardware is a terrible idea. Amazon is producing a completely integrated service that would do everything that a certain type of person might want from a tablet. Facebook doesn't do that. It is only ever going to be just one thing on a phone and it would be one of 50 android phones on the market. It would be much more difficult than some people think. It is a major logistical and technical undertaking," Evans said.