Where are the iPhones Purchased in UK?

According to reliable sources quoted by Theregister, only 26,500 iPhones purchased in UK have been activated by O2 over the last 2 weeks. This is less than one fourth of all iPhones sold in UK! So the obvious question to ask: where are the remaining iPhones?
Some optimistic analysts expect that most of them are now sitting in packed boxes as Christmas present. However, one can easily imagine that most of the missing iPhones have been bought, then jailbroken, and then either immediately sold on the grey market, or directly used in UK with an officially non supported carrier.
One will have to wait for figures from Germany to have a better idea of the number of jailbroken iPhones. On November 29th, T-Mobile will face the German court to defend terms of its exclusive deal with Apple, while the iPhone will be launched in France.
If in all European countries where the iPhone is available, the number of jailbroken units rocket too high, Apple's European Partners might be willing to renegotiate terms of their agreement, and Cupertino might have to change its iPhone business plan accordingly prior the introduction of the iPhone in Japan.