It means you'll be getting a "This phone isn't available in your country" pop-up when shopping online and all SKUs sold in Europe by the maker's subsidiary will

It means you'll be getting a "This phone isn't available in your country" pop-up when shopping online and all SKUs sold in Europe by the maker's subsidiary will have different model numbers. Of course, because of the need to support the phone for longer on patched kernels and the impossibility of charging for updates, the phones will be more expensive. The removable battery will also mean that the phone isn't waterproof.