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Everyone has heard of counterfeit designer handbags or counterfeit Rolex watches, but did you know that your game console is susceptible to counterfeiting as well? In fact, one out of every ten technology products are counterfeited, according to a study by the Alliance for Gray Market and Counterfeit Abatement(AGMA) and accounting firm KPMG. Either the entire game console is counterfeit or parts of it are. Often, counterfeiters will take a low-grade product that they purchase at a low price and “rebrand” the product with a name brand.
The internet is a prime place for counterfeiters to sell their products. Although sites like eBay have programs to identify unauthorized sales, they don’t monitor each now listing to determine if it is counterfeit.
Counterfeiters are attracted to technology because the price of products is so high.
The risks for consumers are many though. Often, the quality of the counterfeit product is low and, therefore, will often break or malfunction more easily. In this case, consumers may not be able to return the product and the warranty does not apply.
Counterfeit also includes cases where contract manufacturers put unauthorized parts into electronic devices, often to save themselves money.
Generally, consumers can’t tell if a product is counterfeit. Manufacturers have to be cautious about watching for signs. Symptoms include a large return rate of products.
Consumers should be cautious about the reputation of sites or buyers they purchase electronics from on the internet. If a price seems too good to be true, it probably is.