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The Android Device Manager has the ability to ring a lost device at its maximum volume, even if the device is set on silent. If the user isn't close enough to hear the ringing, the phone or tablet can also be located on a map. If a device can't be found or has been stolen, users will also have the ability to securely wipe all of the information that's stored on their missing hardware.
The Android Device Manager will be rolled out as a web service as well as a dedicated app for your device and will require a Google account in order to use it. Similar services have been available as third party app on Android while other platforms like Windows Phone and iOS have had it for some time now. Its good to see Google has finally taken this as a serious requirement for Android devices.
Smartphones are commonly lost or stolen because of their small size and value. While Android initially allowed OEMs to build in their own services to locate lost of stolen devices, Google new focus on their Nexus lineup has seen several features make their way into the core Android experience. Because this service supports Android 2.2 and higher devices, a vast majority of Android users can now rest assured that their devices wont stay lost for long.
source: Google