As per a news story, Google will be soon releasing an Android Device Manager for Android smartphones which will help users to track their lost phones. This is something similar to what Apple is already offering via Find my iPhone feature which lets the user know the last location of their phone on a map.
The device manger will enable users to ring their smartphone in full volume even if the handset is on silent mode. Also, the user can remotely wipe out the entire data on the phone if the phone is stolen and has confidential data.
All the users need to do is install this Device manager and log into their Google account to enjoy this service. The Android Device Manager will be available for all android based handsets running on Android 2.2v and above.