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(Pocket-lint) - Nokia has announced its quarterly results and though the Finnish manufacturer is still trading at a loss of millions, there is a suggestion the tide may just be turning.

The Q3 results reveal Nokia suffered an operating loss of 576 million euros (£476 million) in the last three months. That’s bad business in anyone’s eyes. However, compare these figures to the previous two quarters - Q2 saw a loss of 826 million euros (£670 million) and Q1 961 million euros (£780 million) - and Nokia is at least heading in the right direction.

Nokia managed to ship more than 2.9 million Lumia devices this last quarter which, coupled with other cost-cutting initiatives including laying off staff, have meant it has been able to diminish losses. 

Of course, it’s too early to say Nokia is completely on the road to recovery but the signs are at least positive. And let’s not forget that the manufacturer could still benefit hugely from the arrival of Windows Phone 8, having invested heavily in Microsoft’s new operating system, most notably with the Nokia Lumia 920.

On the flip side, what will be of concern to Nokia is Microsoft’s apparent adoption of HTC as its Windows Phone 8 flag-bearer.

While Nokia’s plight has provided a lesson for all manufacturers, Pocket-lint for one hopes the once king of the mobile world makes a recovery. A mobile space without Nokia would be a very empty space indeed.

What do you think? Is Nokia on its way back from the brink? Let us know in the comments below...

Writing by Danny Brogan.