Though the markets for high-end smartphones are beginning to saturate, millions of the devices are still being sold in the U.S. and Europe. This means that while smartphone manufacturers look to mid- and low- end smartphone markets in the developing world for growth, component manufacturers will have steady sales for years to come.

Analyst firm NPD’s DisplaySearch today released its quarterly report on mobile display shipments. It predicts that mobile panel manufacturers have increased their revenues by 55% over 2012, with revenues expected to reach $33.3 billion by the end of 2013. Panel shipments are predicted to reach 1.9 billion units, a 15% year-over-year increase DigiTimes attributes to high-end smartphones from Apple and Samsung.

“The top two brands leading growth in the global smartphone market – Samsung with its Galaxy S4 series and Apple with its iPhone 5 series – continue to increase production volume and market share,” said Hiroshi Hayase, VP of Small/Medium Displays at DisplaySearch. “The growth in sales for these popular smartphone brands has led to increased requirements for high-end flat panel displays, including AMOLED used in the Galaxy S4 and LTPS TFT LCD used in the iPhone 5.”

With revenue growth outpacing shipments, DisplaySearch is pinning the revenue surge on the growing size and resolutions of top-tier devices. AMOLED, which Samsung uses for its Galaxy smartphone lineup, is predicted to make up 37% of panel revenues this year.