Android is the operating system that powers over 1 billion smartphones and tablets. Since these devices make our lives so sweet, each Android version is named after a dessert: Cupcake, Donut, Eclair, Froyo, Gingerbread, Honeycomb, Ice Cream Sandwich, and Jelly Bean. As everybody finds it difficult to stay away from chocolate we decided to name the next version of Android after one of our favorite chocolate treats, Kitkat!
Not a whole lot of information just yet. The page says "It's our goal with Android KitKat to make an amazing Android experience available for everybody", which could mean either a focus on lower-end, cheaper devices, improved support for more form factors such as laptops, or both.
As for the name - the BBC reports that Nestle is okay with Android using the KitKat name, and that no money is exchanging hands. A deal was reached within 24 hours.