-The trend, throughout the world, is going heavily against Nokia
-Nokia's margins on each unit is a fraction of the competition
-Nokia's relevance is largely in a market (phones) which is being overtaken, faster in some parts of the world than others, by SmartPhones
-Profits for 3rd party developers of Nokia products are smaller than profits for 3rd party developers of the competition.
I'm sure there was a point in history when horses were more popular than cars in most of the world and we all know how that turned out.