Bloomberg reports that Adobe is finding it a challenge to create a version of Flash player for the iPhone according Adobe’s Chief Executive Officer Shantanu Narayen.

“It’s a hard technical challenge, and that’s part of the reason Apple and Adobe are collaborating,” Narayen said today in a Bloomberg Television interview from the World Economic Forum in Davos, Switzerland. “The ball is in our court. The onus is on us to deliver.”

In March 2008 Steve Jobs said that Adobe’s Flash ran too slowly for the iPhone, also stating that the slimmed down Flash Lite “isn”t capable enough to be used with the Web.”