Samsung has posted record losses in recent quarters, and while it has yet to return to its previous numbers, the new financial results report sounds optimistic. For the company doing better in the last three months than in previous quarters, thanks to strong sales of mobile flagship devices and premium displays.

The company reported consolidated revenue of KRW 67.40 trillion for the third quarter of 2023 (approximately CZK 1.1 trillion), which is a respectable 12 percent increase compared to the previous quarter.

According to Samsung, demand increased in the third quarter compared to the second quarter, thanks to the fact that the global smartphone market has started to show signs of recovery. He expects smartphone sales to pick up next quarter thanks to the holiday season and the market to bounce back next year as “consumer sentiment stabilizes in anticipation of a global economic recovery.”

Another segment that performed well in the third quarter is Samsung’s mobile panel division, which “showed a significant increase in profit thanks to new flagship models launched by major customers” of the company. As Bloomberg notes, Apple’s iPhone 15 could be among these new flagship models. Company Samsung intends to continue to focus on the production of OLED displays and plans to create a supply chain to meet the needs of the augmented and virtual reality market.