Research In Motion’s new BlackBerry Bold may not be bold enough to satisfy investors.

Scrambling to upgrade to its product line to better compete with Apple and Google’s Android devices, RIM showed off a new touchscreen Bold yesterday at its annual conference, known as BlackBerry World, in Orlando, Fla.

But investors weren’t exactly bowled over by the new design, which boasts only minor updates and a soon-to-be-obsolete operating system. The phone runs Blackberry’s latest OS 7.0, which is set to be replaced by the company’s QNX software that already powers RIM’s PlayBook tablet.

With the incremental upgrade, RIM is essentially encouraging consumers to hold off buying BlackBerries this quarter until the new Bold phones come out this summer.

Moreover, the company touted its QNX devices to come next year, which would make the OS 7 phones relics as well.

“That’s not really how you sell your new phone, ‘By the way, in seven months we’re focusing on rotating to a new platform,’ ” said Colin Gillis, an analyst with BGC Partners. “With developers hearing that message, it’s unclear how much effort they’re putting into the current platform being sunsetted.”

Last week, RIM shares took a major hit — falling 14 percent on Friday — after the company lowered its sales forecast for the quarter because of product delays. Yesterday, the stock closed down 1.13 percent at $48.10.

Nevertheless, RIM is under pressure to develop phones that have the Internet and app capabilities consumers have come to expect, and in that regard RIM succeeded, according to Alkesh Shah, an analyst with Evercore Partners.

“It’s a step toward upgrading the entire product portfolio, and from a hardware perspective, it’s good first step because the specs for the BlackBerry Bold are good,” Shah said.