a) Steve Jobs considers Flash a “security risk” because it is buggy and is trying to protect his loyal worshippers.
b) The hardware is not up to it.
c) Apple is protecting its revenue stream – flash support would allow web based applications, games and video streaming, thus cutting into the profits of the iTunes store.
Answer: C Simples!
No. #364 in a list of things about the iPhone that annoys the hell out of me despite owning one and loving it.