Nokia: 1 in 5 cell phones are fakes

In a report just released by Finnish cellphone giant Nokia, they estimate that as many as 20% of all mobile phones are counterfeits.

Nokia was addressing how counterfeit phones are hurting their sales - especially in emerging markets such as China, Latin America, and former Eastern Block counties in Europe, where consumers simply do not have the money to drop down on the real, more expensive devices.

The sale of fake phones hurts Nokia the most, being they are the most popular handset manufacturer in the world, but is not limited to. High end Apple, Blackberry, and Motorola phones are also commonly counterfeited too.