Earlier today, we referenced a report that indicated Google would be releasing its new news reader app (and Flipboard competitor) Currents on Friday. Well, Google went ahead and decided to announce it today.

It’s been introduced as a new app for Android devices, iPads and iPhones for online magazines.

“We’ve worked with more than 150 publishing partners to offer full-length articles from more than 180 editions including CNET, AllThingsD, Forbes, Saveur, PBS, Huffington Post, Fast Company and more,” Google’s Mussie Shore (product manager) and Sami Shalabi (technical lead) say in a joint post on the Google Mobile blog. “Content is optimized for smartphones and tablets, allowing you to intuitively navigate between words, pictures and video on large and small screens alike, even if you’re offline.”

“To get started, simply download the app and choose the publications you want to subscribe to for free,” they add. “You can also add RSS, video and photo feeds, public Google+ streams and Google Reader subscriptions you’re already following. In addition to consuming your favorite media, you can also use the trending tab to discover related content that matches your tastes.”

Google has also launched a self-service platform for publishers to design, brand and customize their content as they like. Publishers can also associate their accounts with Google Analytics.

The app comes with Google+ integration that allows for easy sharing of content.

It’s now available in the Android Market and Apple App Store in the U.S. I actually had trouble finding it searching the Android Market from my phone, but you can go here and scan the QR code and go right to it.

It looks nice, but will it replace Google Reader in your news reading habits?