Google announces new operating system based on Google Chrome. the new operating system, aptly named Google Chrome OS, will be an open-source operating system initially geared toward netbooks, Google announced in a blog posting late Tuesday evening.

Google claims the new operating system, which should ship on netbooks starting in the second half of next year, will be “lightweight” and heavily Web-centric.

With Chrome OS, Google plans to follow the same formula it used with its browser: “Speed, simplicity and security are the key aspects of Google Chrome OS. We’re designing the OS to be fast and lightweight, to start up and get you onto the web in a few seconds,” Google stated in its announcement. “The user interface is minimal to stay out of your way, and most of the user experience takes place on the web.”

Google will also make security a high priority with Chrome. The company notes it will be “going back to the basics and completely redesigning the underlying security architecture of the OS so that users don’t have to deal with viruses, malware and security updates. It should just work.” As you might assume, that is a pretty ambitious goal, considering every current operating system sees its fair share of security flaws and patches.  Chrome OS will run on x86-based PCs, as well as machines built around the ARM processor