LG Q1 2013: 10.3 million smartphones shipped, $119 million in profit

LG’s Q1 2013 financial results are out, and they’re nothing but good news. Smartphone unit shipments hit 10.3 million, which is nearly double the number of Widows Phones that Nokia shipped. Just goes to show off far the mighty fall. That 10.3 million figure is also, according to LG’s press release, the “highest for LG since it entered the smartphone race.”

Sales are also up 30.6% year over year, and more importantly, they’re up 15.2% sequentially. That’s something you don’t really expect since Q4 is traditionally seen as the strongest quarter of the year. Profits came in at 113 billion Korean won, which comes in at $119 million. Not a lot of money, but it’s something.

Speaking about money, if sales hit 3,202 billion KRW, and 10.3 million phones were shipped, that means the ASP of an LG phone in Q1 2013 came out to $278, which means LG is selling quite a few higher end devices than I was originally anticipating.