We have fascinating news for smartphone enthusiasts. According to Bloomberg Businessweek, Chinese information and communication technology company Huawei may have become the third largest smartphones vendor in the world in the second quarter of 2012.

In March earlier this year, Huawei expressed their resolve to become a top brand. To exactly quote Richard Yu, chairman of Huawei Devices unit:

In three years we want the Huawei brand to be the industry’s top brand.

It now seems that Huawei is ahead of schedule in its endeavor. Businessweek reports that Huawei has passed Nokia at the end of June 2012 to take number 3 spot in overall smartphone market share – behind only Samsung and Apple. This marks an exceptional rise from its last year’s rank of 7 among top smartphone makers.

According to research analysts, Huawei’s success can be attributed to its successful low-cost, low-price strategy and reliance on Google’s Android OS. Horace Dediu of Asymco equity research firm believes that Huawei can challenge Samsung in the future. He says:

Let’s not forget that Samsung itself was No. 4 or 5 just a few years ago. Samsung ought to be looking over its shoulder.

Huawei has recently released a variety of budget, midrange and high-end smartphones thus increasing sales. These new releases include Huawei Ascend P1, which Huawei boasts as world’s thinnest Android smartphone.

Source: Bloomberg Businessweek