Adobe (NASDAQ: ADBE)'s Flash player is used for most videos available on the internet. Almost all PCs use it for content play-back. Now, Adobe will use Apple (NASDAQ: AAPL)'s software development kit to develop the product for the iPhone.

According to The Wall Street Journal, "In comments widely reported last month, Apple Chief Executive Steve Jobs said the company's iPhone hadn't adopted Adobe's mobile version of its Flash program because of technical and performance concerns."

Adobe obviously think Jobs is full of beans. It means to prove that by getting its Flash player on Apple hardware so that customers can watch video from tens of thousand of websites. The Flash player is on about 700 million PCs worldwide, which is why content companies use it.

What is curious is that Jobs would resist allowing iPhone customers the ability to watch a wide variety of content. It would seem that would make the iPhone an even more popular item.

Maybe Apple wanted some cash from Adobe for the privilege of being on the hot handset product, and the media player company said "no."

Douglas A. McIntyre is an editor at 247wallst.com.