Nokia posted its third quarter earnings recently, revealing $7.8 billion in total revenue for the quarter but an operating profit of just $162 million. With Microsoft poised to take over the company's phone business, Nokia sold a record 8.8 million Lumia smartphones, though the division still posted loss of $118 million.

The Finnish smartphone-maker may be better off financially without its smartphone business, but its line of Windows devices showed strong growth over the past three months. A year ago, the company sold just 2.9 million Lumia phones in Q3 2012, while last quarter it sold 7.4 million devices. That's a 19 percent increase in just three months, largely thanks to the company's low-cost Lumia 520.

Microsoft has hinted that it may discontinue or drastically alter the Lumia series once it acquires Nokia's phone business, while outgoing Microsoft CEO Steve Ballmer has made it clear the Asha line will likely remain intact as a way to introduce new consumers to the company's mobile services such as Skype and SkyDrive. Nokia's feature phone business continued to be strong this quarter with 55.8 million units sold, though sales were down from 76.6 million last year.