The Linux Foundation and LiMo Foundation have announced that they will be working together on a new open source software project, named Tizen.
What is Tizen?
Tizen is an open source Operating System mainly based on Linux.
What kind of devices will Tizen Support?
Tizen will support wide range of devices like smartphones, tablets, smart TVs, netbooks and infotainment devices.
Who is working on Tizen?
The Linux Foundation will host the project while development will be led by Intel and Samsung (open development)
What about programming languages?
HTML5 based programming interfaces, app development to happen mostly based on emerging web standards.
Expect SDK release in Q1 2012
Source: https://www.tizen.org/ (for further announcements, developer documentation etc)