Glossary
Grey market
Genuine stock sold through a channel the manufacturer did not authorise for that country, usually without the local warranty.
Grey-market goods are genuine, not counterfeit. What makes them grey is the route: they were made for sale in one country and are being resold in another through a seller the manufacturer never authorised there. The product in the box is real; the arrangement behind it is not one the brand supports.
What it means for a buyer
The practical differences show up after the sale. A manufacturer warranty is normally honoured only in the country the unit was sold for, so a fault can mean shipping the product abroad at your own cost, or no cover at all. Software and voice features are often restricted by region and may not switch on locally. Returns depend on the reseller rather than the brand, and there is no local service centre to fall back on.
None of that makes grey-market stock a bad purchase. It is frequently the only way to get a product that has no local launch, and it can be cheaper. It is a different transaction from an official one, and worth pricing as such.