Developing for the Apple iPhone using Flash
A good news for flash developer, Adobe CS5 will let you develop iPhone & iPod touch Apps using ActionScript. These applications can be delivered to iPhone and iPod touch users through the Apple AppStore. Go through following link to view details
http://www.adobe.com/devnet/logged_in/abansod_iphone.html
Adobe is now considering smart phone market seriously and is actively focusing on making smart phone application development kit. You can watch application developed using CS5 here.
You can also make application for iPad. Go to http://blogs.adobe.com/flashplatform/2010/01/building_ipad_apps.html link to read in detail