Nokia this week announced a net loss of £893.8bn, almost four times what they achieved last year, despite this the company has seen its share value actually increase by 19 per cent.
This was in part thanks to their solid sales of their mid-range to budget handsets still running on the Symbian offshoot Belle OS, of course Belle is most widely known for appearing on the Nokia 808 PureView with its 41-Megapixel camera.
Despite confidence in the company remaining strong Julian Jest, Research Analyst for Handsets and Devices at Informa Telecoms & Media believes that Nokia are still in a very weak position.
"Nokia is running out of time; however it still has sufficient cash to make it through subsequent quarters, and is willing to do whatever it takes, whether it be decreasing its work force or spinning off parts of the business not relevant to its central strategy, such as luxury phone brand Vertu."
Jest goes on to point out that it's not just been down to Nokia, Microsoft's heavy involvement in the revitalisation of the company will be more vital than ever in the coming months.
"As a stand-alone OS Windows Phone will not succeed, and will remain a niche product. However, Microsoft has a huge market share in terms of desktop computers, laptops and Ultrabooks."
"The release of Windows 8 across multiple platforms, including the new Surface tablet, will provide the consumer with more exposure to OSs unique features and benefits, and will give the boost in sales that Nokia needs."