Intel and Samsung have come together to develop Tizen - a brand new Linux  OS geared to be used in mobile devices.  Both these companies are  working under the umbrella of the Linux Foundation and the LiMo  foundation.
LiMo Foundation  is an industry consortium dedicated to creating the first truly open,  hardware-independent, Linux-based operating system for mobile devices.
Tizen will be a  standards based Linux OS that is being designed to be run on tablets,  smart phones, smart TVs, netbooks, and in-vehicle infotainment systems.
As the news filters in,  Tizen will be supporting HTML5 in a big way especially in application  programming interfaces. Tizen is slated to be released sometime in 2012.
One of the key factors in developing this new operating system is to  lower device realization costs, increase flexibility, and improving time  to market. And it is believed, Tizen will improve on all these points  because of its adherence to open standards and its cross-category reach.
(Sources - http://smo.infinigraph.com)