They did see the plunge coming, that is why they went for someone outside the company, Elop. They were running out of ideas. They had nothing at the table that could compete with other platforms, and went for WP. The current platforms of Symbian, Meego, Maemo, etc.... are not good enough at the high end.
There is no need to be joyful with negative news. Its expected of a dinosaur that took more than 5 years to see what is coming down the pike. Elop is doing the right thing, whether its little too late, I dont know. Perhaps they should have gone with Android? Perhaps. I am still optimistic. But before they get there, NOKIA willl definitely shrink.
They enjoyed a good 10 year ride, everything good eventually ends. Hope they can rebuild it.