LG Q1 2014: ships 12.3 million smartphones including 5 million LTE phones

LG Electronics today said its mobile division shipped 12.3 million smartphones including 5 million LTE phones in Q1 2014.

The Korean device vendor said 12.3 million smartphones comprise 75 percent of all phones shipped ― an increase of 19 percent.

LG’s shipment of LTE smartphones rose 79 percent to 5 million, accounting for 41 percent of all smartphone shipments in the quarter compared to 27 percent for all of 2013.

LG Smartphone

Its mobile business revenue rose 6 percent to KRW 3.41 trillion ($3.19 billion), while operating profit margins rose quarter-on-quarter due to the launch of G Pro 2 in Korea.

LG said it is expecting higher revenues in the second quarter with the release of the flagship LG G3 smartphone and wider roll-out of the mass-tier L Series III.

Meanwhile, LG announced 319 percent increase in first-quarter net to KRW 92.60 billion ($86.62 million). Its revenues rose 1.2 percent to KRW 14.27 trillion ($13.35 billion).

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