Sorry, but various studies have shown that cheap phones are like cheap computers, either they lose money, or at best, break even. The problem that Nokia has is that local companies in China and even India now, are moving in on their cheap phone business and taking business from that. Apple and various Android vendors are taking the profitable high end smartphone business away, and that gives them problems. If you look at their financials, you will see many problems.
Do you know that Nokia makes over 200 different phones? Most sell in relatively small numbers.
They are firing large numbers of people, closing factories, shutting down internal software development; all bad news.
Twenty years ago, Motorola seemed unassailable. They were one of the biggest, most advanced technology companies, and for years, the biggest cell phone manufacturer. But look what happened to them since.
Nokia is on that track. Even Nokia Siemens, their industrial networking manufacturing arm is in big trouble. This is a company in serious decline.
Remember, just a few years ago they had 60% of the worlds smartphone market, but now it's below 17%, and shrinking. This is where they make their profits, or used to, as they aren't making a profit now.