Live at the Facebook app we discovered that because there hasn't been a full team on board for the Android App, and that is has been "behind" it's iOS counterpart.
Some of the changes coming to the Android Facebook application will 'Places' and 'Groups' integration. This will finally bring the Android application somewhat up to par with the iOS version of the application.
They also stated that they are not developing a phone. They are simply a social company and instead of focusing on getting hardware to the market, they will be focusing on updating their application to make more devices more social.
[Update: Available Now - thanks Simms22!]