ADVERTISEMENT
  • The Membership Club
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Sunday, January 24, 2021
Premium Times Nigeria
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
Global businesses lose $550 billion annually to counterfeiting, piracy – HP Nigeria

Global businesses lose $550 billion annually to counterfeiting, piracy – HP Nigeria

August 4, 2014
1 min read
ADVERTISEMENT

“As many as one in ten IT products sold globally may be counterfeit.”

Businesses around the world are said to lose in excess of about $550 billion every year due to illicit practices like counterfeiting and piracy, Hewlett Packard, HP, says.

HP, one of the world’s largest IT companies, said more than $100 billion of the losses were specifically from the Information Technology industry.

To curtail the huge losses, particularly in the Nigerian business environment, HP Nigeria, one of the largest IT companies in the country, said it has made huge investments over the years.

Describing Nigeria as a leading nation in the protection of Intellectual Property in Africa, Managing Director, Hewlett-Packard Nigeria Limited, Ime Umo, said on Monday that part of the company’s investments include an anti-counterfeit conference it is to host in Abuja on Wednesday, August 6.

Mr. Umo said the event would focus on efforts to combat illicit counterfeit practices, increase awareness on the problem and share best practices amongst officials of government Ministries, Departments and agencies, MDAs, law enforcement agencies as well as millions of HP partners, customers and other stakeholders.

According to Mr. Umo, participants at the one-day summit would include the Interpol, Nigerian Customs Services, NCS, and officials from the Anti-Counterfeit Collaboration, ACC Nigeria and over 100 representatives of other IT brand holders.

“As many as one in ten IT products sold globally may be counterfeit,” Mr. Umo said in a statement. “Indeed, counterfeiting has increasingly become a more organized, trans-border, and sophisticated criminal activity on a global scale, where operations take place in virtually every region and economy.”

He said counterfeit products not only cheat customers out of their money, but also have a very significant economic impact on government revenue, particularly loss of tax revenues, loss of national gross revenue and loss of jobs.

RelatedNews

PROFILE: Babajide Sanwo-Olu, Governor of Lagos, Nigeria [2019 — ]

Amidst recession, Buhari to spend highest amount on Presidential Villa since assuming office

VIDEO: Boko Haram carrying out attacks in Nasarawa – Governor Sule

VIDEO: How my three-year-old daughter was sexually molested in Akwa Ibom school – Mother

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: To advertise here . Call Willie +2347088095401...


JOIN THE CONVERSATION

  • Disqus (1)
premiumtimes



PT Mag Campaign AD

Previous Post

Blight disease destroys Irish potato farms in Plateau

Next Post

Osun Election: APC says 500,000 unclaimed permanent voters cards cloned

More News

Union Bank of Nigeria

Union Bank’s principal owner ‘considering sale of 50% stake’

January 23, 2021
JPMorgan

Malabu: Prosecutors want JP Morgan’s document admitted in Italian trial

January 23, 2021
Nigerian Stock Exchange Trading floor [Photo: blogs.cfr.org]

NSE WEEKLY: Investors’ move to reap full-year gain drains stocks value by N82bn

January 23, 2021
Naira notes used to illustrate market trading

Naira falls against dollar as CBN vows sanctions over remittances

January 22, 2021
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria November 9, 2016. REUTERS/Afolabi Sotunde

NSE: Nigerian stocks fall on rate adjustment fears

January 22, 2021
Bauchi State, Bala Mohammed [PHOTO CREDIT: @SenBalaMohammed]

Bauchi Govt signs N30.9bn MoU for power generation

January 22, 2021
Next Post
Rauf Aregbesola: The Man Who Knows The Responsibility In Power, By Semiu Okanlawon

Osun Election: APC says 500,000 unclaimed permanent voters cards cloned

Nasarawa Assembly asks Governor Al-Makura to sack electoral commissioner

Nasarawa Impeachment: Physically challenged Nigerians declare support for Al-Makura

Discussion about this post

Search

#EndSARS: Latest Updates




Polaris Bank


JAIZ Ad


NITDA Ad




Advertisement






netherland biz school Advert

Zenith Advert

Heritage Advert
ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • Opinion
  • PT Hausa
  • The Membership Club
  • Dubawa
    • Dubawa NG
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
  • Digital Store
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.