Since last october and the annoucement of Flash Lite 3 by Adobe, there has been a lot of buzz around this new technology and what it means for mobile web.

Flash Lite’s main challenge is to reach a critical percentage of device coverage … over half a billion devices shipped so far, thanks. More important is the future: Will Flash Lite reach the same level of ubiquity it has on the web today?

Last week a joint announcement made by Adobe and Microsoft that Flash Lite will be integrated into Windows Mobile is a major step forward.

On Apple’s side, things are more confused …

Steve Jobs said two weeks ago that Flash is not the right solution for the iPhone. The Adobe CEO announced last week that they would start working on it themselves … and changed his statement a few hours later because Apple’s SDK license will not allow them to distribute a Flash Lite plugin for the iPhone.

A battle is raging, and there is so much buzz going on that it seems pretty likely that Flash (or Flash Lite) will make it on the iPhone soon.

With or without Apple, Flash Lite will change the mobile web, and mobile advertising. New ad-formats are being prepared and will be launched in Europe before this summer. They use Flash Lite to provide full-screen interstitials ads and sponsored mobile videos. Expect more from us soon…