You can’t yet watch Flash videos on your iPhone, but soon that capability will be available on Windows Mobile phones.
Adobe announced this morning that Microsoft has licensed its Flash Lite software, the version of the nearly ubiquitous multimedia platform designed for mobile devices. Future Windows Mobile phones will be able to access Flash content in the Internet Explorer Mobile browser.
Recall that in the days before Apple released the iPhone software development kit, CEO Steve Jobs announced that the iPhone would not support Flash.
Adobe said today that Flash Lite is on more than 500 million mobile devices so far.
Microsoft, which expects to have more than 20 million Windows Mobile phones on the market this year, is also working on its own online video platform to compete with Flash: Silverlight. Microsoft is making Silverlight available on Windows Mobile 6 devices in the second quarter, and executives have said they want to get the runtime distributed as far and wide as possible.
Microsoft also is licensing Adobe Reader LE, for viewing PDFs on mobile devices.
Adobe reports its first quarter earnings tomorrow after the markets close. Today, Goldman Sachs lowered its target price from $38 to $37 a share with analysts predicting earnings of 42 cents a share.