Adobe is abandoning Flash Player for mobile in favor of HTML5. Certainly, HTML5 seemed destined to be the winner in the contest for mobile interactivity--especially since Apple mobile devices continue to not support Flash within the browser.
Adobe stated on the Adobe Flash Platform blog and the Adobe Featured Blog:
HTML5 the best solution for creating and deploying content in the browser across mobile platforms. We are excited about this, and will continue our work with key players in the HTML community, including Google, Apple, Microsoft and RIM, to drive HTML5 innovation they can use to advance their mobile browsers.