The healthy growth in sales figures makes this LG's best-ever first-quarter in terms of revenues. The manufacturer's overall shipments for Q1 2015 totaled 15.4 million, slightly lower than the 15.5 million managed last quarter. Sales from North America increased by an impressive 66 percent from Q1 2014, with a growth of 57 percent witnessed in South Korea thanks to the introduction of the G Flex 2 in the country earlier this year.

With shipments of 16.8 million handsets, Q3 2014 still stands as LG's best quarter over the last five years, with the manufacturer counting on the LG G4 to boost sales this quarter.

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Elsewhere, LG's home entertainment division recorded a KRW 4.44 trillion ($4.03 billion), down 5 percent from the same period a year ago. Increased focus on 4K and OLED TVs is said to increase sales in Asian as well as North American markets in Q2 2015.

Source: LG