This is the question on mine and many other developers minds. Up to this point I've developed many demo applications and a few rather large core phone user interface applications. And, to be honest, I'm concerned because I'm still not seeing enough of the common developer applications out there. I'm seeing a decent amount of Core UIs but I'd consider that to be the select few of the developers really doing much on a large scale with Flash Lite.
When comparing the opportunities as a Flash Lite Developer, I can't help but think to myself that the distribution model for Flash Lite games is too difficult for all but the large and established mobile games studios. I can contrast this with the iPhone distribution model. Granted, the iPhone in many ways is a different beast, with its platform unity and iTunes integration. However, I feel, that without the ability to create a stand alone application without having to worry about whether the phone has the flash player I need as well as a good way to update that application later on, then only really savvy people are going to embrace this.
Don't get me wrong. I sit at my desk everyday and think to myself "why can't flash lite be more successful than other technologies out there because it is so awesome?" And yet, when I look at studios around who are trying to make money selling games or other applications, I'm not totally inspired to think there is room or a large enough market to make a successful business as a Flash Lite game developer. The distribution partners sure carve off enough to pay the bills but the developers ends up eating ramen noodles and saying to themselves, "Hey, the big wave of Flash Lite success will come soon, right? If I can just survive till then." And if it doesn't hit, what do we do then?