6. Nokia

Lost: $1.2 billion in a quarter in 2012

Nokia has always captured the market for low end cell phones especially in developing countries. They were the largest handset manufacturers in the world till the first quarter of 2012 but Samsung has now taken that spot.

Nokia has not yet broken into the ever growing smartphone market where Apple and Samsung are the leaders. As a result the company is facing loses as big as $1.2 billion in the last quarter of 2012. They blamed the ‘greater than expected competitive challenges’. The company’s only hope is the new windows phone that they have launched.