According to Steve Jobs, the rumors about the iPhone being ready for Flash were overly optimistic. Indeed, the Jobs says Flash is designed for big machines and it is far too slow on the iPhone. He points at a missing middle product.

Gear Live just posted a tip they have received from their sources about the iPhone will have flash support in the very near future. Currently, the iPhone and iPod touch do not support flash sites leaving some to be dissapointed in the web experience. Rumor was it was a hardware issue that prevented the support.