Despite its massive potential, a recently released analysis of the Asian smartphone market revealed that the market would be facing some significant changes soon. Major Chinese smartphone manufacturers like Xiaomi and Lenovo came bursting into the scene a couple of years ago, and now the two titans are seeing their market share being slowly cut by another Chinese player, Huawei.

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Huawei is currently the leading the Chinese smartphone market. However, many analysts agree that Huawei's dominance may not hold on for long. Especially now that new players are also making waves.

Just as Huawei is cementing its grip on the market, smaller smartphone manufacturers like OPPO and Vivo are on the verge of challenging Huawei's dominance. According to Android Authority, analysts predicted Huawei's year-on-year growth would be by about 10 percent. The same analysts said that OPPO is expected to grow by 59 percent, while Vivo is expected to grow by 40 percent. Another startup company, LeEco, is currently enjoying a massive growth rate of 300 percent year-on-year.

This unstable changes of the status quo simply highlights how competitive the Chinese smartphone market is. Sometimes, smartphone manufacturers can see their market share crumble in a span of less than a year due to high competitiveness from new startups.

In a statement acquired by Mobile World Live, TrendForce smartphone analyst Avril Wu said, "The Chinese market is ever-changing. Short product lifecycle and fierce competition lead to constant shifts in the production volume range for domestic brands."

This type of fierce competition is also taking place in other Asian markets. In Taiwan, the once dominant smartphone manufacturer HTC is seeing its market share being slowly eaten up by its closest competitor Asus.

TagsSmartphone, Asia, Asian Smartphone market, smartphone market, china smartphone, Huawei, Xiaomi, Lenovo, Oppo, vivo