Thought the situation at Nokia was dire already? They've just reported their first quarterly loss in 18 months, recording $US521 million loss, compared to the $US322 million profit they made in the same period last year.
Sales of phones dropped 20 per cent to 88.5 million devices in the last quarter, which can partly be attributed to the fact that everyone and his dog knows Nokia has bigger and better products on the way in the form of Windows Phone 7 devices. But had Nokia soldiered on with Symbian and Meego, I wonder if the situation would be any different? [Nokia and Bloomberg]