By Bukola Olanrewaju
A recent HP-commissioned study by Harris Interactive has showed that Nigeria global economies lose as much as $3 billion yearly to counterfeit product.
Counterfeit products are fake or unauthorized replicas of the real product, which are often produced with the intent to take advantage of the superior value of the imitated product.
According to the report, trends in product showed an increase in counterfeiting, even as enforcement scores significant wins.
HP, in collaboration with security agents, has raided several hideouts in Lagos, where counterfeit HP consumables were sold and arrest was pretentious.
Analysing the report, the Director Global Anti-Counterfeit Programme at HP, Glenn Jones, explained that market indication shows the rise and risk of counterfeit print supplies.
“Every one of the key market indicators we monitor shows a significant increase in the risk of counterfeit print supplies. For companies like HP, counterfeits undermine decades of focused research and testing aimed at creating superior ink and toner and reliable, high-quality cartridges for our customers.
“For users, fakes cause a significant increase in print failures, low page yield, poor print quality, leaks and clogs, in addition to voiding hardware warranties.”
According to Harris Interactive surveys, the past four years have shown a 30 per cent plus drop in companies working with a trusted, primary supplier, and a 27 per cent increase in companies buying purely on availability.
With a broader, less trusted supplier network, Small and Medium Enterprises (SMEs) are losing the ability to discern the authenticity of their cartridges with absolute confidence.
All regions heavily affected by counterfeiting, in particular the Middle East, Eastern Europe and Africa, with almost three quarters of businesses surveyed feeling confident their purchases were genuine.
While the market trends are concerning, HP and other Print Original Equipment Manufacturers (OEMs) are continuing their significant efforts to battle this issue by actively engaging with local authorities.
Citing recent successes made across the EMEA region, HP said in a statement that the authorities in the United Arab Emirates (UAE) disrupted the criminal operations of an internationally active syndicate that had assembled counterfeits of HP and Samsung-branded cartridges, resulting in the seizure of around 46,000 illicit items.
In a major series of raids, Russian authorities dismantled a criminal syndicate that had been wholesaling counterfeit HP-branded cartridges. Officials seized over 215,000 illicit items while raiding residential and warehouse sites in the Volga region and the Moscow area.