Adobe CEO Shantanu Narayen told Bloomberg News in an interview that the software company was working together with Apple to develop a version of Flash for the iPhone. In the past, none other than Steve Jobs had said that Flash would be too slow for the iPhone and that Flash Lite isn't capable enough. Even with both companies on the same page, Narayen admits that it will not be an easy task to complete. And still open is the question of whether Flash would be part of a firmware upgrade for the phone, or if it would be delivered to users as an application to be downloaded from Apple's App Store.
source: Bloomberg News