The series has been broken down into 20 two-minute episodes, which can be viewed by sending a text with the word "CELL" to 2020. Three episodes will be released each week, costing 50p each or £3.50 for the entire series.
The drama follows a man who finds himself locked in a lawless prison, with no notion of how he got there, who is holding him or why, and with no hope of escape. All he has is a cell phone and the voice of a mysterious caller.
O2 and Endemol, the maker of "Cell", are planning to syndicate the series to other mobile operators around the world.
Grahame Riddell, head of content at O2 UK, said: "'Cell' shows that O2 is once again pushing the boundaries of mobile video content, with the highest production values and an innovative commercial model that sees O2 and Endemol share revenue."
Pasa Mustafa, head of Endemol's Digital Studios in the UK, said: "What makes 'Cell' a first is that we're applying production values normally associated with TV or film to a made-for-mobile series."