[nifty]

I saw the cell phone I want there at QUITE a cheaper price than at big box stores like Broadway and Fortress. Is this place a reputable place to buy cell phones from and are they 'water products'?

Here's the address I went to:
Shop 3B, United Success Commercial Centre
5 Cannon St Causeway Bay, HK

[sarawesi]

It may be one of three possibilities:

Firstly, really that cheap,
Secondly it's second hand but still in almost new condition,
Thirdly and more likely it is 'Sui foh'. 'Sui foh' goods are common in HK, particlularly with respect to electronics. They are normally genuine articles and completely new but have been brought into HK by way of 'Parallel Import'. This means, for example, a pile of them come into HK and are sold in smaller shops instead of being brought in via the official dealer, Sony, Panasonic, etc which will then be sold in shops such as Fotress which will not deal in 'Sui foh' goods. Due to the chain of dealers etc. the price is inflate.
So what's the dissadvantage of purchasing 'Sui foh'? Well, you will not get an international warranty and the offical dealer in HK will not honour any claim of warranty or cause repair should it break or malfunction.
You are left then with two choices...get it repaired by one of the many small shop,stalls etc in HK or take it back to the original country where it was intended for sale...normally Japan.
Also, you may find difficulty obtaining an English or HK Chinese (Traditional Characters) version of the instruction manual as it will be written in the language of the country in which it was intended for sale. Of course, a check on the internet or WEB site may provide a manual in the language you require.

Hope this is of use in helping you decide.