Nokias problem is size. It's too large to sustain selling S40 and S30 devices even though sales are shifting dramatically toward the more expensive S40 devices. It needs to shrink more. Accelerated growth of WP would help of course, but that is not a solution Nokia can live with, it needs to become profitable in it's main business of S30 and S40.
Meltemi proved to be a dead end road, the team couldn't deliver something that was more competitive than S40.
S40 gives more bang for the buck than anything out there, and it is selling by the billions, literally, but it is no solution for high end, and it is no solution for Europe or NA. Here the competition is iOS and Android.
Not only high end, but that is where the profit margins are.
Samsung looks unbeatable, but Samsung is no innovator.
Lots of people will dislike it, simply because it doesn't fit their blocky, conservative skulls. WP is somewhat similar. WP7 has limitations, but I tell you, my Lumia is much more fun with new stuff coming all the time than the stale N9.