EUR 45.3 billion Lost Worldwide Due to Fake Smartphones

Computers and Software
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The European Union Intellectual Property Office (EUIPO) and the International Telecommunication Union (ITU) have jointly published the eleventh sectorial study, covering the economic cost of IPR infringement in the Smartphones Sector.

The report which was released on February 28, 2017 analysed the number of smartphones sold in 90 countries in every region in the world, based on point-of-sale tracking of consumer purchases.

Some of the main findings of the report are highlighted below:

  • EUR 45.3 billion lost worldwide in 2015 (12.9% of all legitimate sales)
  • In the EU, EUR 4.2 billion was lost in 2015 (8.3% of all legitimate sales)
  • 21.3% of sales were lost due to counterfeiting in Africa in 2015
  • 19.6% of sales were lost due to counterfeiting in Latin America in 2015
  • 7.6% of sales were lost due to counterfeiting in North America in 2015
  • 17.4% of sales were lost due to counterfeiting in the Arab countries in 2015
  • 15.6% of sales were lost due to counterfeiting in China in 2015, with China accounting for one third of the global revenue loss in the smartphone sector that year
  • 11.8% of sales were lost due to counterfeiting in the Asia-Pacific region in 2015

António Campinos, EUIPO executive director, said the findings should come as a wakeup call for policymakers.

“At the EUIPO, through our reporting and analysis, we are building a picture of how counterfeiting and piracy affect key economic sectors. This is our first report in this series which analyses a sector both inside and outside the EU.

Click here to view the full report

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About Bob Aroture 500 Articles
Bob is a Senior Editor and Content Development Manager at Nigerian Law Intellectual Property Watch. He holds a BS degree, with a major in biochemistry. He works directly with the Newsroom Team. His focus areas are technology and innovation, and pharmaceutical technology. Email: baroture@nlipw.com

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