Namely, working with multiple vendors, Adobe is working to get Flash content delivered via the Internet directly to TVs and other set-top devices. Called the “Flash Platform for the Digital Home”, it is being given to OEMs, who are implementing the technology into their hardware.
The ultimate goal is content delivery, bypassing the need to have a computer connected to a TV. There's already a considerable amount of devices that accomplish similar goals – such as the numerous devices that can stream Netflix videos, for instance – but Adobe's aim probably isn't to compete with any of those. Rather, Adobe's goal is probably to become the de-facto choice for the method used to stream content. A smart move on their part, as anyone who has paid attention to streaming technologies in the past few years knows that a lot of focus is on the living room.