What are grey imports, and what do you lose buying one?
Genuine products imported through channels the manufacturer did not authorise for that market — not counterfeits. The goods are real; what differs is everything around them, and that is where the cost sits.
How they arise. Manufacturers set different prices in different countries, and currency movements widen the gaps. A trader buys where it is cheap and sells where it is expensive. This is lawful in many circumstances, and manufacturers dislike it because it undermines territorial pricing.
What you actually lose:
Manufacturer warranty. Many warranties are territorial, valid only in the intended market. The seller may offer their own warranty instead — which is only as good as the seller's solvency and willingness, and is the single biggest practical risk.
Regional incompatibilities, including mains plugs, voltage, mobile bands — a phone may lack the bands your network uses, giving poor coverage in ways that look like a fault — broadcast tuners, and regional locking.
Software and update differences, including devices that cannot receive updates intended for another region.
Missing certification for your market, which matters for safety and for the manufacturer's supporting infrastructure.
No local documentation or support, and manufacturer helplines that decline to assist.
Registration for recalls may not reach you.
What you keep. Your statutory rights against the seller are unaffected if the seller is based in your jurisdiction — goods must still be of satisfactory quality, fit for purpose and as described, and those rights sit with the retailer, not the manufacturer. This is the important protection, and it disappears if the seller is overseas, where enforcement becomes impractical.
How to identify one: a price substantially below every authorised retailer; plug adapters supplied in the box; packaging in another language; a warranty offered by the seller rather than the manufacturer; and model numbers with unfamiliar regional suffixes.
When it can be sensible: discontinued items, cameras and lenses where warranty risk is understood, and price gaps large enough to absorb the risk.
Pay by card, which preserves chargeback routes.
General information, not legal advice.