Nokia has revealed its first quarter financial results for the period January to March 2008 that are in line with expectations.

Net sales were 12.7 billion euros, an increase of 28% for the same period last year with net profit coming in at 1.2 billion euros, a 25% increase.

Nokia estimated its device market share in the period was 39%, up from 36% in Q1 2007 but down from 40% in Q4 2007.

The Finnish company shipped 295 million units in the 3 month period, up 17% year on year and down 12% sequentially.

It seems that Nokia's "very strong" position in emerging markets has helped recent sales figures.

Olli-Pekka Kallasvuo, Nokia CEO said: "Nokia had strong profitability in the first quarter, with both operating profit and EPS up significantly year on year".

"The overall device market developed as expected, with the greatest demand in emerging markets, where our position is very strong."

"The competitiveness of our product portfolio is reflected in our market share and we target market share gains in the second quarter. The portfolio is renewed on a continuous basis."

"While we will not have major new products shipping in the second quarter, we expect a number of new products to be shipping, and to have a positive impact on our results, in the second half of 2008."