After he drastically slashed the sales forecast two weeks ago, Canaccord Genuity analyst T.Michael Walkely's forecast on BlackBerry shares Monday suggested again that BlackBerry Z10 sales are modest

Walkely had initially predicted the sales of nearly two million devices and that forecast dropped to just 300,000 units February 19. But now he once again revised his forecast to make it closer to 800,000 units.

"Our global surveys post the recent BlackBerry Z10 launch indicated mixed initial sales with limited initial supply cited as the reason for early post-launch stock-outs at some carrier stores during the first week of launch," Walkley wrote in a note to investors Monday.

"Our follow-up surveys have indicated steady but modest sales levels for the Z10. With new BB10 smartphones launching in the U.S. only in mid-March or later at subsidized prices no better than competing high-end Apple/Samsung smartphones, combined with our expectations for the Galaxy S IV to launch at a similar time frame in the U.S. market, we anticipate BlackBerry will struggle to reclaim high-end smartphone market share," he added.

Walkley believes that carrier support for BlackBerry 10 in the United States is modest by pointing the Sprint's decision of offering only the BlackBerry Q10, and T-Mobile to sell only the Z10 smartphones.

He also believes that the supplies of the BB10 devices has improved in February, which  is supposed to help boost sales and lead BlackBerry to report a fiscal 2013 loss per share of $1.06, narrower than his last forecast of $1.18, The Globe And Mail reported.

Earlier in February, Walkley forecasted that the Waterloo-based company will sell only 300,000 BlackBerry 10 units in the first quarter this year. "With new BB10 smartphones launching in the U.S. only in mid-March or later at subsidized prices no better than competing high-end Apple/Samsung smartphones... we are lowering our BB10 sales estimates for the February quarter and all of [fiscal] 2014," Walkley wrote in a note to clients.

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