Apple's rivals are probably rejoicing as the announcement of a new iPhone 4s failed to live up to expectations of a new iPhone 5.

Apple rivals now have the rare opportunity to grab market share as the iPhone manufacturer's announcement on Tuesday didn't include a new iPhone 5 as many had expected. The iPhone has dominated the smartphone market since its introduction in 2007 and this rare misstep from Apple could be the chance for other manufacturers to take the lead.

Smartphone manufacturers like Samsung, LG Electronics and HTC can now push their new high-end models this Christmas season to take advantage of a market without a new Apple iPhone to gush over.

"Apple no longer has a leading edge, its cloud service is even behind Android; it can only sell on brand loyalty now," said Gartner analyst K.C. Lu, in Taipei.

"Users may wait to buy the next iPhone, if they can't wait, they may shift to brands with more advance specs."

Apple's announcement of the iPhone 4S wasn't exactly what fans were expecting during the big reveal on Tuesday. Fans had been waiting for a new generation iPhone complete with a new name and number and not an updated version of the previous iPhone 4 model.

The iPhone 4S might have new apps that could excite techie, buts it doesn't have the wow factor that would push consumers to line up for hours outside their local Apple stores.

"Major concerns for Samsung had been that its smartphone momentum will decelerate with Apple's new iPhone, but that's now less of a concern as the new iPhone failed to excite many," said Kim Young-chan, an analyst at Shinhan Investment Corp., in Seoul.

Analysts aren't counting Apple out just yet. Apple still has a lot more markets and carriers to enter and the new updated iPhone 4S could target users who want to upgrade from their older iPhone 3 models.

The iPhone 4S sells for $199 in the U.S., with preorders starting Oct. 7.