Each year, the electronics industry loses $250bn to counterfeit products. This is according to data collected by the global information board for counterfeiting, the ERAI, who says this illegal trade shows no signs of slowing down.
“In a world shaken by unprecedented global supply chain issues, these counterfeit components are becoming increasingly sophisticated, as, says the ERAI, are the tactics used by scammers to target desperate buyers facing shortages.”
The market for counterfeit electronics is one of the most widely discussed and analysed topics in the electronics industry, yet little headway has been made in solving the problem, claims The Manufacturer. In their view, there are several more complex definitions of counterfeit electronics, but in essence, the “term refers to a part whose origin or quality has been deliberately misrepresented”.
Counterfeit parts come to market via numerous routes, but there are ways to combat their prevalence. Purchasing companies need to be vigilant and take precautions to improve both their own position as well as that of their wider supply chain, where low levels of required supply increase the pressure to access the open market.
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