Adobe decided that it is time to stop development
and any security patches (bug fixes) for all future mobile devices, focusing more on HTML5 platform where they will continue to 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.
Update: Everyone was mislead by the media as the announcement made a couple of days ago by Adobe saying Flash Player development stopped, it did but only for mobile browsers, nothing more. Adobe will continue to offer security patches and bug fixes when the time comes.
We will no longer continue to develop Flash Player in the browser to work with new mobile device configurations (chipset, browser, OS version, etc.) following the upcoming release of Flash Player 11.1 for Android and BlackBerry PlayBook. We will of course continue to provide critical bug fixes and security updates for existing device configurations. We will also allow our source code licensees to continue working on and release their own implementations,” said Adobe in an official statement.
The company also confirmed that they are already working on Flash Player 12 with a list of new exciting features delivering high-definition entertainment experiences.