Adobe has announced that it will not work further on the development of Flash Player for Mobile browsers.
Instead of working on Flash players, it has plans to work on the development of applications for mobile app stores, including Apple’s app stores. Moreover, they will focus on increasing their investment on HTML5 in general.
From Adobe’s announcement;
Our future work with Flash on mobile devices will be focused on enabling Flash developers to package native apps with Adobe AIR for all the major app stores. We will no longer adapt Flash Player for mobile devices to new browser, OS version or device configurations. Some of our source code licensees may opt to continue working on and releasing their own implementations. We will continue to support the current Android and PlayBook configurations with critical bug fixes and security updates.