Adobe’s CTO, Kevin Lynch, stated in a blog post yesterday that we should see a general release of Adobe Flash 10.1 for Android in June:

We look forward to delivering Flash Player 10.1 for Android smartphones as a public preview at Google I/O in May, and then a general release in June. From that point on, an ever increasing number and variety of powerful, Flash-enabled devices will be arriving which we hope will provide a great landscape of choice.

This does not mean, however, that users will necessarily be able to make use of Flash 10.1 in their own phones at that time. It is possible, perhaps even likely, that we will only see Flash 10.1 as part of a firmware update that will have to come from manufacturers for each of their devices that have the require hardware specs.