Nokia has just announced a total operating loss of $754 million for the third quarter of 2012, a drop in its net cash from $6.6 billion last year to $5.5 billion now, and declining Lumia sales. Oh dear.
The news perhaps shouldn't come as too much of a surprise. Quarter after quarter Nokia seems to announce dire financial news: just three months ago it announced that it had sold 4.8 million fewer phones in total compared to the same period last year. Even CEO Stephen Elop had warned that that quarter three was going to be "challenging".