­Samsung has posted a 26% rise in its third-quarter revenues and a near doubling of its profits.  The improved performance is mainly attributed to increased sales of handheld phones and stronger demand for display panels.

The company announced revenues of KRW 52.2 trillion (US$47.4 billion) and operating profits that were up by 91% to KRW 8.12 trillion (US$7.4 billion). Net profit was also up by 91% at KRW6.6 trillion (US$6 billion).

Operating profits for the IT & Mobile Communications division saw 132 percent year-on-year growth, and accounting for more than half of Samsung's total revenue.. The mobile unit alone was responsible for 26.25 trillion won in revenue, resulting in an 82-percent spurt in growth compared with the same quarter a year ago.

As for the display panel segment, increased shipments of Organic Light-Emitting Diode (OLED) and Liquid Crystal Display panels used in tablets and smartphones, as well as TVs drove up profitability.

Despite global economic uncertainties, Samsung's end-product and components business units saw sales climb compared with the same quarter last year. Digital Media & Communications - comprising the Consumer Electronics and IT & Mobile Communications business sectors - accounted for KRW 41.90 trillion in sales, up 41 percent year-on-year.

"The business environment remained difficult with global economic uncertainties persisting amid the fiscal concerns in the US and Europe. However, we continued to break our quarterly profit records," said Robert Yi, Senior Vice President and Head of Investor Relations.

Looking ahead, for the remaining quarter, year-end seasonality will push up demand for mobile devices including tablet PCs, as new products make their way into markets with more competitive pricing. Year-end holiday promotions, robust demand in emerging markets and China's New Year holiday effect are expected to shore up global demand for IT products. Demand for PC DRAM will be weak due to oversupply, and sales of digital appliances will slow down due to unfavorable market conditions in developed economies.