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'Nokia investigating grey market trading, especially in UK'(DMeurope Via Acquire Media NewsEdge) Nokia is investigating the high levels of grey market trading from UK distributors and retailers, Mobile Today reported. Nokia shipped 113 million handsets between October and December, with five million of these resold through the grey market, sources told the website. The UK has drawn particular attention from senior Nokia officials amid record levels of grey trading. Nokia said it will consider removing 'Approved Partner' status pending the investigation. Nokia UK general manager Mark Loughran said the matter was very serious. The key objectives of Nokia UK's review in 2008 was to select distributors who had the highest standards and create a close working partnership. Loughran said that action would be promptly taken if any partnership breach is noted. Exporting UK stock to other countries has been driven by the rapid fall of the British pund at the end of last year. Demand for Nokia stock from the UK has come from countries which do not track serial numbers such as Iraq and Iran, as well as South Africa. Sources have indicated significant demand also from Germany and Dubai. Iceland is the other country identified to have exported large volumes of Nokia stock after its currency, the Krona, fell dramatically amid the collapse of its economy and nationalisation of its banks. UK distributors, retailers and operators also found themselves sitting on stock they could not sell after bleak Christmas sales. Many had over-ordered stock as forecasts and orders were placed earlier in the year. (Distributed for DMeurope.com via M2 Communications Ltd (www.m2.com)) Copyright ? 2009 M2 Communications Ltd. [ Back To TMCnet.com's Homepage ] |