Forecast: Nokia's Q1 net profit up 42 percent

According to a poll of financial analysts conducted by Factset, Nokia's first quarter profit is expected to hit $2.19 billion, a 42 percent increase over the year-ago period in which the company posted $1.54 billion in profits. Analysts expect Nokia's sales to rise 28 percent to $19.9 billion as a result of strong growth in emerging markets. Nokia affirmed in late March that its global unit volume growth would rise 10 percent this year despite the economic downturn that has hurt some of its competitors.

"The focus on Nokia will be on the ASP (average selling price) as the market mix changes with stronger than expected BRIC (Brazil, Russia, India, and China) countries and weaker than expected mature markets," said Stockholm-based Kaupthing analyst Per Ekstrand. "We'll also be watching for the effects of the declining U.S. dollar."

The handset maker's ASP is expected to fall from its fourth quarter level of $131.

For more on analysts' forecast for Nokia:
- read this article from Dow Jones