LG Electronics has sold 12.3 million smartphones in Q1

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LG Electronics has announced that it shipped 12.3 million smartphones last quarter, which is up 19% from a year ago and represents three quarters of all of its phones sold in Q1. Of the 12.3 million, 5 million people were LTE-enabled.

The phone unit revenue for the quarter was $3.19 billion, which was up 6% from a year ago and profit margins up from the prior quarter. The Q1 net profit marks a 319% yearly increase to KRW92.60 billion ($86.62 million).

The consolidated first quarter revenues are KRW 14.27 trillion (USD 13.35 billion). Compared to the same quarter in 2013, this is a 1.2% increase.

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