Adobe and Microsoft are working together to bring
Flash Player 10.1 to Internet Explorer Mobile on Windows Phone 7 Series, blogged, Mike Chambers, product manager for developer relations for the Flash Platform at Adobe.
Windows Phone 7 will not support Flash initially, it will support it later. It has also been reported the HP tablet based on Windows Phone 7 will support Flash.
Google will be supporting 10.1 Flash in future versions of Android per their announcement at Mobile World Congress. Windows 7 Phones are expected in December of 2010.
As the web moves more to mobile, don't forget you can get a non-Flashy simplified version for mobile phones of Wireless and Mobile news at wmns.mobi.