Summary Box: Nokia posts $1.38 billion loss in 4Q

THE BASICS: Mobile phone maker Nokia Corp. says it lost ?1.07 billion ($1.38 billion) in the fourth quarter as sales slumped 21 percent. The loss compares with a profit of ?745 million a year earlier.

THE BIGGER PICTURE: Nokia has lost its once-dominant position in the global cellphone market, with Android phones and iPhones overtaking it in the growing smartphone segment.

COMEBACK?: Nokia is attempting a comeback with phones using Microsoft’s Windows software. Nokia says it has sold more than 1 million such devices since the launch of the Lumia line in the fourth quarter, in line with company expectations.