When the iPhone was first released, there was an abundance of speculation over whether the phone's lack of Flash support would cripple its browser and give us something less than "the real web" that Apple had promised. At the time, Steve Jobs explained that the full version of Flash wouldn't run well on the iPhone (the iPhone runs on an ARM11 chip, which doesn't play nice with Flash), but that Adobe's Mobile Flash was lacking in functionality - he wanted a product in the middle before Apple would consider putting Flash on the iPhone.Today at the Flash On The Beach (FOTB) conference, Adobe has confirmed that such an application is in development (it had previously been speculated to exist, but there was no official word from either company). Adobe Sr. Director of Engineering Paul Betlem made the announcement, stating "My team is working on Flash on the iPhone, but it's a closed platform."

More...