Adobe, a long time player in rich internet applications wants be an active participant on mobile platforms, including the iPhone. Adobe engineers put their minds together and delivered a solution to work around the problem of the iPhone browser's lack of support for Flash. If the iPhone Safari browser will not support the Flash player, let's use the Flash tools to compile a native iPhone application (ipa) which lives directly on the device. This initiative now gives the opportunity for ActionScript developers to develop applications for the wonderful iPhone and iPod Touch devices.
@InsideRIA on Twitter