According to the International Chamber of Commerce, fake goods are worth an estimated $1.7 trillion a year, with phones in particular proving irresistible to the rip-off merchants.
Research from the EU Intellectual Property Office shows that counterfeit handsets cost the industry £45 billion a year due to lost sales, with 184 million fewer legitimate phones sold. In all, 13% of handsets sold are fake.
It’s easy to assume that the majority of these bogus sales take place in the markets of Bangkok or China, but research shows that the problem is global.
THE GLOBAL COST OF COUNTERFEITING
This graph shows the percentage of counterfeit sales in each region, and the total cost of the lost sales in that region. So, for example, while counterfeiting remains a huge problem in Africa,…