"A recent interview with Bloomberg has had Adobe chief Shantanu Narayen reveal that Adobe has teamed up with Apple, to work on bringing flash to Apple's iPhone.

Narayen has said that "It's a hard technical challenge [Flash], and that's part of the reason Apple and Adobe are collaborating". CEO of Apple, Steve Jobs, said last March that the full version of Flash runs poorly on the iPhone, and Adobe's Flash Lite is not featured enough for use, so he has called on Adobe to produce a third version.
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[Via www.neowin.net]