In its final earnings report as a standalone unit – as it has now been taken under the wing of Microsoft, as of the end of last week – Nokia's phone business has posted some rather poor financial results.
In the last quarter, phone sales dropped by a precipitous 30 per cent year-on-year, and it was in the red with a net loss of £197 million for the quarter.
C-net spotted that Nokia wrote in its earnings report: "On both a year-on-year and sequential basis, our Mobile Phones net sales were affected by competitive industry dynamics, including intense smartphone competition at increasingly lower price points and intense competition at the low end of our product portfolio."
It's interesting to note that the likes of Samsung has been suffering at the premium end of the market, with consumers shifting to buy cheaper handsets – and it looks like the Android growth at the budget end of the market is affecting Nokia's presence there. But not only were the likes of Nokia's Asha models knocked – the company's smartphone sales also slipped.
All in all, it's a rocky picture and doubtless not particularly comforting reading for Microsoft, which as we've already mentioned has just picked up Nokia's phone division.
Naturally, we can expect a lot of changes going forward, and it'll be interesting to see what Redmond has up its sleeve to turn this around. However, you have to wonder how Nokia's fortunes would have turned out if it hadn't hitched itself up to Windows Phone in the first place, and had just gone the Android route itself (a route it finally began exploring just before the Microsoft takeover, with the Nokia X).
For more, see our in-depth look at whether Microsoft's acquisition of Nokia will pay off.