Sun. Jun 23rd, 2024

Apple has lost about $12 million due to counterfeit iPhones over the past decade

Natasha Kumar By Natasha Kumar Jun3,2024

Apple has lost about $12 million to counterfeit iPhones over the past decade

Apple has been replacing counterfeit iPhones with stolen ID numbers for free in the past decade. The corporation exchanged approximately 16,000 units of counterfeit iPhone devices — and lost more than $12 million, writes WCCFTech. What is known?

Due to the cost and long service life, iPhone and other gadgets from the Apple corporation are constantly being counterfeited. The company's losses from counterfeits reached $12.3 million. The main reason was that users bought fake iPhones and came to the Apple Store to replace them with real ones.

How Apple lost $12.3 million on counterfeit devices

The problem started in 2014 — from a criminal scheme. According to WCCFTech's sources, the fraudsters were getting the fake devices from counterfeit manufacturers in China. The phones also had stolen serial numbers.

How iPhones were counterfeited and avoided detection

Because the devices have real ID numbers that were stolen from the previous owners, real users may be void of AppleCare warranty repairs. The reason is that Apple's system has already processed the IDs as faulty and returned the devices.

To avoid detection, the attackers have applied for repairs at various Apple Stores in California. They provided false information to official Apple stores, including fake addresses, names, etc.

What are the risks of fraud schemes with equipment in the USA

The Apple Store was exchanged gadgets like Apple Watch, iPad, various variants of iPhone, etc. If the defendants are found guilty of the crime, they face many years in prison under US law.

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my 1-800-268-7116

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