Huawei is the world's third-biggest smartphone vendor with a 9.4 percent market share in the second quarter of 2016, up from 8.6 percent in the same period last year, according to IDC. It's consumer device business saw revenue in the first half year of 2016 increase by 41 percent year-on-year to 77.4 billion yuan ($11.6 billion).
As the smartphone market cools, analysts said that these flagship-like phones at lower price points will drive the market.
"Those mid-range devices are becoming capable and they are replacing some sales of high-end devices so you do get some customers moving down to that mid-tier so there is a definite market for these kinds of devices," Daniel Gleeson, senior consumer technology analyst at Ovum, told CNBC by phone.
The success so far of Apple's iPhone SE also means there is appetite for these smaller devices like the compact version of the Nova.
Huawei also used the IFA conference to launch an 8.4-inch tablet called the Mediapad M3, with enhanced audio features, aimed at people using the device for entertainment.