UPDATE: Yes, it's official. Google launched its own wireless service, aptly named Project Fi.

Google will leverage its new technology to “intelligently connect you to the fastest network whether it's Wi-Fi or one of our partner LTE networks.”

What’s interesting about the new service is that it will transition service between wireless and Wi-Fi networks so that you’re always connected in the least expensive way. And this is Google’s responsibility, not yours. (I say this because I have the Wi-Fi option on my phone right now, but after receiving a Wi-Fi alert, I have to manually OK the switch).

On the Fi Basics plan ($20 per month), customers get unlimited domestic talk and text, unlimited international texts, “low cost” international calls, Wi-Fi tethering and coverage in 120 plus countries. The data prices are $10 for 1GB, $20 for 2GB, $30 for 3GB and so on. So, a plan with 3GB would cost you $50/month. If you don’t use all your data, you get money back for the portion you didn’t use.

Google reports there’s no annual contract required.

What’s somewhat unique about the service is that, once you connect your number to Google Hangouts, you can talk, text, and check voicemail via any screen that supports it, regardless of what device the person on the other end is using.

There’s more information in yesterday’s story below.

Game Changer

We should have suspected that something bigger was about to happen when Google confirmed it was rolling out its previously announced mobile-friendly update today yesterday.

“We’re boosting the ranking of mobile-friendly pages on mobile search results. Now searchers can more easily find high-quality and relevant results where text is readable without tapping or zooming, tap targets are spaced appropriately, and the page avoids unplayable content or horizontal scrolling,” the company reported in a blog post.

Naysayers were calling the move “Mobilegeddon.” Google itself noted that it would “have a significant impact in our search results.”

But this isn’t the only market Google will be disrupting this week.

The Wall Street Journal reported Google will launch its wireless service as soon as tomorrow today, initially on Nexus 6 phones. It will ride on T-Mobile and Sprint networks, moving between the two according to which has the better signal.

There may be some other interesting features, including an option to make calls using Wi-Fi, which could substantially lower your bill.

And if you win by paying less when you use Google’s service, someone will likely lose. Most likely it will be the vendors who only offer traditional plans.