Today, Macromedia announced an updated version of the Flash Lite players. This release addresses major issues developers pointed out with the first release.
The update offers several new, important features such as direct access to phone-specific features such as signal strength, measuring battery level, sending SMS and dailing numbers from Actionscript. Loading movies and vaiables is also possible. FlashLite 1.1 adds support for more audio formats, embedded fonts, better input, streaming sound and also features playback of SVG Tiny. The latter is a small sensation since it's the first official support of the SVG format from Macromedia. Macromedia has never been negative towards SVG, they've just not seen the need for it on the desktop since Flash is so dominating. Apparently, they are now thinking otherwise about the mobile market. All in all, this release addresses all the major issues developers pointed out with the first release. Official Macromedia comments from Juha Christensen here.
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