http://blog.rlove.org/2010/04/why-ipad-and-iphone-do...

The real reason that the iPad and iPhone do not allow third-party applications to multitask is likely more complex, more technical. Bear with me here. Both the iPad and iPhone, as mobile devices, have limited memory (256MB in the current incarnations) and no hard drive. No hard drive means no swap file. Limited memory and no swap imply that applications have a small, fixed amount of memory at their disposal. They don’t have the luxury of seemingly-infinite memory, as a modern system with swap has. Memory consumption is thus a critical system constraint. Like most systems, the iPad and iPhone deal with this by killing applications that use too much memory via a mechanism called the out of memory (OOM) killer. Unlike most systems, applications designed for the iPad and iPhone know how much memory they have at their disposal, and are designed to operate within those constraints. This is classic memory management in embedded programming. No swap, fixed memory, you deal.