If it it supports BREW 3 then it is Flash Lite compatible.
A word of caution though, if your goal is to learn how to develop Flash Lite content, then BREW is not a good place to start. You would be better off starting with Nokia phones, windows mobile or Sony Ericsson. These offer a simple and free way to test out your Flash Lite content through pre-installed Flash Lite players or in the case of Windows mobile, a user installed Flash player.
Flash Lite 2.1 (based upon Flash 7) for BREW is basically a stand alone type of player (no web browser support). The Flash Lite player installs over the air when you purchase a Flash lite game through the "get it now" service.
To create content for the Flash Lite BREW player you must use the free Brew publishing tool from Adobe to "wrap" your SWF and related assets inside a BREW application. The Flash Lite BREW player cannot load SWF files from the phone, they must be wrapped as a BREW application.
To test your content directly on a BREW phone you must pay $400 to become a registered BREW developer. For Flash Lite development all this amounts to is getting the appLoader application (Windows only) which can transfer your Flash lite brew applications to the phone through a cable, and a developer certificate which is required to enable your BREW application to run on the phone. There is no other way to test your Flash Lite BREW application.
Testing is a tedious process because you must republish your brew application each time, transfer it to the phone, and reboot the phone.
Verizon will not allow your brew application onto its network unless it is certified through a testing process which costs about $800 for the first test, per phone you intend for the app to run on. It is not possible for people to install or use your BREW application from your web site. It must be delivered through Verizon's BREW Delivery system network.
Currently there are 3 content aggregators that sell Flash lite content through Verizon "get it now" service. All of them are focusing on Flash Lite games. They will pay for the testing of your game and offer a profit sharing arrangement if you choose to license your game for sale in their catalog.
It is remotely possible that this phone could support Flash Lite 3.0 within its advanced browser. If true it would give you a way to test your Flash content over the web which avoids the BREW application testing headache.
I havent heard anything about Flash Lite 3.0 for BREW, but who knows...
There is no guarantee that phones with advanced web browsers will include Flash. Adobe does not distribute Flash for free on devices. So, the market uptake is dependent upon manufacturers, and network operators licensing Flash for their devices. For example, iPhone does not yet have Flash, and we havent heard anything about future plans to support it.
Even if phones do end up supporting Flash in browsers, developers will need to do some retooling of their PC web based applications to make them accessible on smaller screens, within the limits of the phone's version of Flash, and for the near term, more limited CPU and RAM.
This is one of the results of mobile computing's upward push on desktop computing.