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As investors question whether or not Facebook can make money off the millions who access the social network via mobile devices, the company’s stock has plummeted. At Friday’s TechCrunch Facebook Ecosystem Crunchup at the Fox Theatre in Redwood City, Calif., Facebook executives explained how the site has taken an all-hands-on-deck approach to creating a richer experience on smartphones. They also detailed why a Facebook phone isn’t in the works.

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