A truck holding AU$1.96 million worth of Nokia Siemens Networks gear was stolen from Homebush Bay on the weekend.
The equipment in the truck had previously featured in an exhibition in Sydney and was en route to Melbourne by courier at the time of the theft.
The courier collected the equipment from the warehouse where it had been stored after the exhibition and drove it by truck — a 2007 Hino Pantec with NSW number plates AR 98 UK — to a residence on Stromboli Street, Homebush Bay, where he intended to stay the night.
The equipment was was stolen during the night.
According to NSW police chief inspector Dave Minarik, the equipment is all unsupported next-generation technology, not yet available in Australia and, as a result, difficult to sell.
Minarik said in order for the thief to make money, he would have to sell it to someone "who knew what they were after" such as Nokia Siemens Networks' competitors.
Since the haul happened over the holiday weekend, it took time for the police to clarify exactly what was on the truck and how much it was worth, Minarik said, with the force having to contact the company in Germany.
Police are appealing for anyone who has any knowledge of the theft, or who knows the whereabouts of the truck, to contact Flemington LAC on 02 9646 8699 or Crime Stoppers on 1800 333 000.