Nokia reinvents itself again as it offloads troubled phone division

Nokia may have sold its mobile and tablet business, but its latest earnings report highlights the dire state of affairs Microsoft has just inherited. Although Nokia is vague about precise device sales, revenues were down 30 percent from last year, from €2.77 billion ($ 3.84 billion) to €1.93 billion ($ 2.68 billion), and losses rose from €120 million ($ 166 million) to €326 ($ 452 million). Nokia primarily attributes the huge dip in revenues to falling sales of regular phones, but does note that sales of its smartphones, the majority of which are Windows Phone Lumia devices, also fell.

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