HP hosted a local event in Saudi Arabia to help raise awareness of counterfeit and fraudulent activity in the region.
Across EMEA over the last five years (2013-2017), approximately 13m counterfeits and components have been seized by local authorities, closely supported by HP. In addition, HP has conducted over 5,300 audits and inspections (CPPAs and CDIs) of partners’ stocks or suspicious deliveries for customers, and that number is rising year-on-year. According to estimates from the anti-piracy consortium Business Action to Stop Counterfeiting and Piracy (BASCAP) of the International Chamber of Commerce (ICC), the yearly global economic and social impact of counterfeiting and piracy is expected to reach up to $4.7 trillion by 2022.
The event included a live experiment showing original HP tonners against compatibles, as well as a presentation from HP on how they are working with local authorities to fight against the manufacturers of counterfeit and fraudulent print products in the region.
“Taking action against the growing issue of counterfeiting in the Middle East is of huge importance to HP,” said by Narayanan Venkataraman (KV), managing director of HP Saudi Arabia.