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.
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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