diff --git a/CHANGELOG.md b/CHANGELOG.md
index 0f0dafe1..b02a29a9 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -11,6 +11,8 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ### Fixed
 
+- Fixed printing UTF-8 sequences that were read in multiple parts. (#468)
+
 ### Changed
 
 ### Removed
diff --git a/espflash/src/cli/monitor/mod.rs b/espflash/src/cli/monitor/mod.rs
index 28f29052..b8b05de6 100644
--- a/espflash/src/cli/monitor/mod.rs
+++ b/espflash/src/cli/monitor/mod.rs
@@ -43,6 +43,7 @@ struct SerialContext<'ctx> {
     symbols: Option<Symbols<'ctx>>,
     previous_frag: Option<String>,
     previous_line: Option<String>,
+    incomplete_utf8_buffer: Vec<u8>,
 }
 
 impl<'ctx> SerialContext<'ctx> {
@@ -52,6 +53,40 @@ impl<'ctx> SerialContext<'ctx> {
             ..Self::default()
         }
     }
+
+    fn process_utf8(&mut self, buff: &[u8]) -> String {
+        let mut buffer = std::mem::take(&mut self.incomplete_utf8_buffer);
+        buffer.extend(normalized(buff.iter().copied()));
+
+        // look for longest slice that we can then lossily convert without introducing errors for
+        // partial sequences (#457)
+        let mut len = 0;
+
+        loop {
+            match std::str::from_utf8(&buffer[len..]) {
+                // whole input is valid
+                Ok(str) if len == 0 => return String::from(str),
+
+                // input is valid after the last error, and we could ignore the last error, so
+                // let's process the whole input
+                Ok(_) => return String::from_utf8_lossy(&buffer).to_string(),
+
+                // input has some errors. We can ignore invalid sequences and replace them later,
+                // but we have to stop if we encounter an incomplete sequence.
+                Err(e) => {
+                    len += e.valid_up_to();
+                    if let Some(error_len) = e.error_len() {
+                        len += error_len;
+                    } else {
+                        // incomplete sequence. We split it off, save it for later
+                        let (bytes, incomplete) = buffer.split_at(len);
+                        self.incomplete_utf8_buffer = incomplete.to_vec();
+                        return String::from_utf8_lossy(bytes).to_string();
+                    }
+                }
+            }
+        }
+    }
 }
 
 /// Type that ensures that raw mode is disabled when dropped.
@@ -144,8 +179,7 @@ pub fn monitor(
 
 /// Handles and writes the received serial data to the given output stream.
 fn handle_serial(ctx: &mut SerialContext, buff: &[u8], out: &mut dyn Write) {
-    let text: Vec<u8> = normalized(buff.iter().copied()).collect();
-    let text = String::from_utf8_lossy(&text).to_string();
+    let text = ctx.process_utf8(buff);
 
     // Split the text into lines, storing the last of which separately if it is
     // incomplete (ie. does not end with '\n') because these need special handling.
@@ -278,3 +312,75 @@ fn handle_key_event(key_event: KeyEvent) -> Option<Vec<u8>> {
 
     key_str.map(|slice| slice.into())
 }
+
+#[cfg(test)]
+mod test {
+    #[test]
+    fn returns_valid_strings_immediately() {
+        let mut ctx = super::SerialContext::default();
+        let buff = b"Hello, world!";
+        let text = ctx.process_utf8(buff);
+        assert_eq!(text, "Hello, world!");
+    }
+
+    #[test]
+    fn does_not_repeat_valid_strings() {
+        let mut ctx = super::SerialContext::default();
+        let text = ctx.process_utf8(b"Hello, world!");
+        assert_eq!(text, "Hello, world!");
+        let text = ctx.process_utf8(b"Something else");
+        assert_eq!(text, "Something else");
+    }
+
+    #[test]
+    fn replaces_invalid_sequence() {
+        let mut ctx = super::SerialContext::default();
+        let text = ctx.process_utf8(b"Hello, \xFF world!");
+        assert_eq!(text, "Hello, \u{FFFD} world!");
+    }
+
+    #[test]
+    fn can_replace_unfinished_incomplete_sequence() {
+        let mut ctx = super::SerialContext::default();
+        let mut incomplete = Vec::from("Hello, ".as_bytes());
+        let utf8 = "🙈".as_bytes();
+        incomplete.extend_from_slice(&utf8[..utf8.len() - 1]);
+        let text = ctx.process_utf8(&incomplete);
+        assert_eq!(text, "Hello, ");
+
+        let text = ctx.process_utf8(b" world!");
+        assert_eq!(text, "\u{FFFD} world!");
+    }
+
+    #[test]
+    fn can_merge_incomplete_sequence() {
+        let mut ctx = super::SerialContext::default();
+        let mut incomplete = Vec::from("Hello, ".as_bytes());
+        let utf8 = "🙈".as_bytes();
+        incomplete.extend_from_slice(&utf8[..utf8.len() - 1]);
+
+        let text = ctx.process_utf8(&incomplete);
+        assert_eq!(text, "Hello, ");
+
+        let text = ctx.process_utf8(&utf8[utf8.len() - 1..]);
+        assert_eq!(text, "🙈");
+    }
+
+    #[test]
+    fn issue_457() {
+        let mut ctx = super::SerialContext::default();
+        let mut result = String::new();
+
+        result.push_str(&ctx.process_utf8(&[0x48]));
+        result.push_str(&ctx.process_utf8(&[0x65, 0x6C, 0x6C]));
+        result.push_str(&ctx.process_utf8(&[
+            0x6F, 0x20, 0x77, 0x6F, 0x72, 0x6C, 0x64, 0x21, 0x20, 0x77, 0x69, 0x74,
+        ]));
+        result.push_str(&ctx.process_utf8(&[
+            0x68, 0x20, 0x55, 0x54, 0x46, 0x3A, 0x20, 0x77, 0x79, 0x73, 0x79,
+        ]));
+        result.push_str(&ctx.process_utf8(&[0xC5, 0x82, 0x61, 0x6D, 0x0A]));
+
+        assert_eq!(result, "Hello world! with UTF: wysyłam\r\n");
+    }
+}