Flash video coming to mobile devices with Flash Lite 3

According to a couple of press releases today, Adobe is announcing Flash Lite 3 and saying it will bring video to mobile devices. On2 also issued a press release regarding putting their codec technology to work on devices, but I can't figure out if these two are competing or working together.
Written by Ryan Stewart, Contributor
Flash video coming to mobile devices with Flash Lite 3
Some interesting news this week around video on mobile phones. Thanks to John Dowdell, I saw a press release went out that announced a new version of Flash Lite, Adobe's Flash technology for devices, will be supporting Flash video. The details in the press release are kind of sketchy, but if I'm reading them correctly, Flash Lite 3 will support the higher quality Flash 8 video codec that is used today on MySpace and Brightcove. Maybe more importantly, Flash Lite is going to support streaming from Flash Media Server (FMS), which means content providers will be able to leverage the technology in FMS while still reaching mobile users:

Flash Lite will support the same video formats supported by Adobe Flash Player and will directly support video streams delivered by the Adobe Flash Media Server, allowing users to view a broad spectrum of Flash Player compatible content. Videos can be viewed in different forms within the Flash environment, including downloadable video clips, streaming videos, applications with user interfaces based on Flash or personalized content such as wallpapers or screensavers.

I'm not sure how On2 fits into the picture, but Andy Plesser had an interview with On2 CEO Bill Joll about On2 brining Flash Video to mobile devices. On2 also had a press release earlier that announced the availability of Flash Video on devices, but there was no mention of On2 in the Adobe press release, so I'm not sure if these are separate efforts, or if On2 will be providing the technology behind Adobe's Flash Lite 3. Either way, this is going to be a great time for video on mobile devices, and hopefully we can get the experience right so people will use it.

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