Nokia was already in trouble even before they were Elop'ed.
They had been caught on the hop when the iPhone arrived, and although the iPhone 1 had some serious failings which a mobilecentric company like Nokia wouldn't have made, Nokia had all the maneuverability of an overloaded oil tanker, giving Apple the opportunity to fix the flaws and release #2 before Nokia could really come up with any answer.
The N97 was a case in point. A knee jerk touch activated symbian phone, which could have been really good (it had battery life which you can only dream of these days), but it was obviously a rush job, and the flaws doomed it to failure. There were some fixes OTA, but with various invisible geographic agencies in charge of update release, you were pretty much screwed unless you knew how to unlock the phone and switch to generic Euro model (which received updates direct from Nokia).
The support forums were full of Nokia moderator employees with an overdeveloped sense of self importance, complaint posts got deleted instead of solutions offered.
I remember spelling out to one of the moderators that treating customers badly was not the way to retain those customers, and that without customers they wouldn't have forum posts, and without forum posts they wouldn't need moderators. In short be nice to the customers or be out of a job.
I got banned for "disrespecting Nokia".
I dumped the N97 and went out and bought an Android phone.
6 months later Elop arrived, and the decimation began.
So Microsoft (a non mobile company) buys a conceited dinosaur of a mobile company, and they fail to make a success of mobile devices... Hardly a shock.