It's official: Huawei topples Apple to become the second largest smartphone brand

If Apple's new iPhone 8 fails, sharemarkets could bomb

This is common though as they always go through a slump of sales during the lead up to the next iPhone. In addition, Huawei's weak presence in the South Asian, Indian and North American markets also limits its potential to maintain a sustainable second position behind Samsung in quarters to come.

Although Huawei has become the world's second largest smartphone company, none of its handsets could make it to the list of the top 10 best-selling devices.

Chinese brands like Huawei largely rely on direct sales, where the consumer buys a handset with an upfront payment.

Huawei is not hugely popular in the U.S., but sales in China, Europe, Latin America and the Middle East moved it into second spot behind Samsung in July.

The research note did not include specific sales data but showed that Samsung took more than 20 percent of the overall market share during the aforementioned months.

Talking about future prospects and other findings, Counterpoint's Associate Director - Tarun Pathak states: "The growth of Chinese brands is an important trend which no player in the mobile ecosystem can ignore".

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Manufacturing capability, rich feature sets, smartphone design and out-smarting and out-spending rivals in sales channels have seen these brands grow swiftly.

While the world's best-selling smartphone model still remains the Apple iPhone 7 and 7 Plus, Oppo has been one of the fastest growing brands globally thanks to the popular R11 and A57 smartphones, which are in the third and fourth positions by global sales. According to Counterpoint, Huawei and other Chinese brands like Oppo, Vivo, and Xiaomi have consistently managed to "outsmart and outspend" the competition.

Counterpoint Research largely expects this to be a strong reason why Apple has temporarily lost its momentum, whereas Huawei's most recent flagship, the P10 (and P10 Plus), launched just months ago.

Huawei now lacks a true hero device despite having a diverse portfolio, and has to fight on multiple fronts if it does little to build overall brand recognition.

"While Huawei has trimmed its portfolio, it likely needs to further streamline its product range like Oppo and Xiaomi have done - putting more muscle behind fewer products", said Naiya. It services major technology firms and financial firms with a mix of monthly reports, customized projects and detailed analysis of the mobile and technology markets.

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