Research In Motion Ltd., the maker of the BlackBerry e-mail phone, fell 8.6 percent in Nasdaq trading after a Pacific Crest Securities analyst called sales of its new Pearl Flip model ``disappointing.''

Some stores have only sold one or two units of the models since they went on sale Oct. 13, according to a report today from James Faucette in Portland, Oregon. Deutsche Telekom AG's T- Mobile unit has exclusive rights to provide service in the U.S.

Research In Motion is debuting multiple handsets this year to win customers from Apple Inc.'s iPhone, including the touch- screen Storm and the Bold, which boasts faster download speeds. Delays in the release of those two models also may crimp Research In Motion's sales growth, Faucette said.

``Both products have had their schedules slip as much as several months, and we believe that the BlackBerry Bold may continue to suffer from software issues,'' said the analyst, who projects the stock will perform in line with its peers. He expects both phones to be available in the U.S. next month.

Research In Motion, based in Waterloo, Ontario, fell $5.10 to $53.91 at 4 p.m. New York time in Nasdaq Stock Market trading. The shares have dropped 52 percent this year.

Research In Motion spokeswoman Marisa Conway didn't have immediate comment.

Third-quarter earnings will amount to 89 cents to 97 cents a share on sales of as much as $3.1 billion, the company said last month. Analysts project a 92-cent profit from $2.98 billion in revenue, according to the average of estimates in a Bloomberg survey.

Separately, Morgan Keegan & Co. reduced sales projections for Research In Motion today, saying a possible recession may curb growth. Sales of the Flip and the Bold will be lower than initially expected, analyst Tavis McCourt said in a report.

Source:Bloomberg