Adobe announces that Microsoft licensed Adobe Flash Lite, Adobe’s Flash Player runtime specifically designed for mobile devices and Adobe Reader LE software for viewing Adobe Portable Document Format (PDF) documents including email attachments and web content.

Both Adobe products will be made available to Original Equipment Manufacturers (OEMs) worldwide, who license Windows Mobile software.
Microsoft sold 11 million Windows Mobile licenses and expects to sell more than 20 million licenses in fiscal year 2008 giving Adobe Flash a huge push in exposure this year on mobile devices.

Not that Adobe Flash Lite would have growth problems. Adobe announced that Adobe Flash Lite has shipped on more than 500 million mobile devices. Adobe Flash Lite has seen over 150% growths over the last year and is now delivered on mobile phones and devices from all major handset manufacturers worldwide.
Via the Adobe site.