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New HTC One could steal share from Apple, Samsung

An updated version of the HTC One smartphone, unveiled Tuesday, could be alluring enough to attract iPhone users, according to one tech expert.

"The phone is truly beautiful," said said CNET Editor-in-Chief Lindsey Turrentine of the new HTC One M8. "That was true the last one, and it's even more true of this second model."

HTC One M8
Source: HTC
HTC One M8

Last month, the previous version of the HTC One was named "Best New Mobile Handset" at the Mobile World Congress in Barcelona, Spain.

HTC had less than 5 percent of the worldwide smartphone market in 2013, according to research firm Gartner. That compares with Apple's nearly 16 percent share and domination by Samsung, which had 31 percent.

Read MoreHTC updates One phone, emphasizes metal design

But HTC's new model could attract current users of both competitors' devices, Turrentine says.

Apple could lose market share to HTC and other Android devices simply because it's been slow to adopt bigger screen sizes, she noted.

But iPhone loyalists can look forward to a bigger iPhone later this year, UBS Analyst Steve Milunovich told CNBC.

Read MoreExpect bigger iPhone 6, new Apple products: Pro

The HTC One M8 can be ordered online starting Tuesday and will be available in stores on April 10. The phone is expected to be priced at $200 to $250 with a two-year contract or around $650 without a contract.