LG has just posted its earnings for Q2 2013. The company reported revenues of $2.78 billion for the quarter, which is a 34.5 percent increase year over year. LG says that it also sold a record 12.1 million smartphones during the quarter, which led to an operating profit of $54.37 million, which is slightly lower than last quarter. LG attributes the drop to weaker demand in the South Korean market.

LG expects the lower-end L-Series and F-Series devices to increase overall sales growth, while its flagship G2 device should “increase the company’s product competitiveness.”

The company is expected to announce its highly-anticipated G2 flagship on August 7th.