The company sold 26.5 million smartphones last year.
LG Electronics is planning to sell 40 million smartphones in 2013, in order to compete with its rivals Samsung Electronics and Apple.
The 40 million smartphone sales goal would be an increase of 51% from 2012.
The company sold 26.5 million smartphones last year and 20.2 million units in 2011.
LG executive vice president for mobile communications division, Paul Bae, said, "We still see a lot of opportunities in advanced markets, like North America and Europe."
"We're still in a rush to chase [bigger rivals]. If we had enough market share in advanced markets we'd focus on emerging markets, but there's enough growth potential in advanced markets. So the plan is to focus on both," Bae said.
Last year, LG missed its target of selling 35 million smartphones and the company intends to expand in all market segments this year.
LG plans to introduce the Optimus G Pro in more than 50 new countries in the next few months.
The Optimus G Pro features a Qualcomm quad-core Snapdragon processor, a 13- megapixel camera and Google's Android 4.0.4 ICS operating system.
Last month, a Deloitte report revealed that global smartphone shipments are expected to touch 1 billion for the first time in 2013.