Nokia is now fully absorbed into the Microsoft empire, but if Redmond was assuming taking full control of the formerly Finnish operation would see it jumping aboard the fast train to mobile hardware success, it better think again.
That's because Nokia's latest quarterly financials have been announced, and show a massive 30% drop in mobile phone sales compared to a year ago.
Overall, Nokia posted a net loss of €239m from January to March, and as we've seen time and again over the past couple of years, the losses come directly from Nokia's devices and services division – the bit now owned by Microsoft.
In fact, that number would be bigger if it weren't for the rest of Nokia's business, and specifically the patent licensing sector. Nokia may be facing a radically different future having got rid of the hardware division that made it famous, but on paper at least it's held on to the parts of the company that are actually making money.
As for an explanation for the latest round of losses, Nokia says 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.”
Or to put it in plain English, “at every level our rivals are still coming up with better, cheaper products than ours”. Cruel it may be to put things in such blunt terms, but it's hardly like any of this is either new or surprising.
As for what happens next, it'll be interesting to watch. This was the last set of Nokia earnings figures to include its devices and services division – from now on it'll fall into Microsoft's financial infrastructure.
That alone should take things back from the brink in the sense that Microsoft can sustain continued losses into the future for longer than Nokia would have been able to. It didn't just spend several billion dollars to lose more money down the line, however, and yet it's hard to see a quick fix that will turn things around anytime soon.
Or maybe we're just not putting enough faith in Stephen Elop – former Nokia CEO now (conveniently) reinvented as Executive VP of Microsoft Devices – who has already shared some of his vision for Microsoft's new mobile hardware business going forward.
“The Nokia brand is available to Microsoft to use for its mobile phones products for a period of time, but Nokia as a brand will not be used for long going forward for smartphones,” Elop revealed in a Nokia Conversations AMA this week. “Work is underway to select the go forward smartphone brand.”
There you have it: Nokia, the former name of Microsoft's go forward smartphone brand.