The Chinese companies have an interesting habit of releasing some phones at cost or below cost, stating a willingness to take the short-term monetary hit for the long-term brand loyalty and recognition. Given that they are producing great flagship phones in 2012 and are on track to continue this in 2013, but for half of what unlocked flagships would cost elsewhere in the world, the mainstream makers may want to take notice and take notes.
Oppo Find 5: $485
Meizu MX2: $415
Xiaomi MI-2: $310
My point is that if Nokia wants to really turn their ship around, they ought to consider pricing their next flagship more aggressively and reproduce the build quality that made them famous with the 3000 and 6000 series. Give people a reason to buy these phones that is more than a simple "Do you want Windows Phone 8? Check yes or no." It's unlikely they can price down a phone as low as the aforementioned Chinese examples, but they can certainly put out a $500 or less flagship (call it $50 on contract) and $250 or less midrange (free on contract or with rebate).
I think Nokia's two biggest mistakes right now are being exclusively Windows Phone and not producing the build quality that made them famous years ago. Make the phones meme-worthy again!