Facebook announced its Facebook Home product on Thursday in conjunction with a new smartphone, the HTC First which will launch on AT&T on April 12 for $99.99. Facebook Home literally takes over your entire homescreen and lockscreen to create an all-encompassing Facebook experience. One analyst thinks this is bad news for Google.

“While it remains to be seen how adoption will play out, we view as another potential competitive threat to GOOG’s mobile monetization efforts (the other being Samsung),” Sterne Agee analyst Shaw Wu said in a note to investors on Friday. “We find the “people first” interface unique but we believe it could be easily replicated. It will also be interesting if Android licensing terms are revised in the future.”

Wu added that he’s interested to see if Samsung will create its own Facebook focused tablets and smartphones. We do know, however, that the Facebook Home experience will be available for several of Samsung’s existing smartphones.