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.
Read Adobe Blog post
Adobe has announced it will no longer develop Flash for mobile devices.
I think the writing is on the wall . . . would they expect that every website designed with Flash will have to have a mobile version without Flash?
I give Flash on the desktop another year before it's dead and buried as well.
Also apparently Silverlight is not going to be developed any longer, as even MS embraces open standards.