yes, while that's true, you are forgetting one thing:
the n900 isn't made in the EU (at least not the ones shipping to the states).

i assumed we were talking about consumer electronics, and these devices tend to be produced in low-wage countries and shipped around the world.
for such globally sold devices, europe's high cost of labour comes into play and translates (by means of the free market) directly into higher prices.
and with items such as the n900, where the manufacturing process most likely is highly automated, the high efficiency of developed countries' workforces isnt a big advantage anymore.

the american buyer of the german suitcases you mentioned on the other hand has to finance the "expensive" workers in germany.
and that's the case with any product produced in high-wage countries. Only if the product quality is really good you will have a chance to compete against cheaper competitors abroad.

if you look at consumer goods, it's usually only the top quality products which are exported, because you can't compete with mediocre products when your costs are ten times that of a local producer.

and if you compare the prices of similar products in different markets which are produced locally everywhere (i.e. no export/import taking place), the high-wage factor comes into play again. it's all about PPP!

to sum it up: globally available products (especially electronics) are always more expensive in the EU, while as domestic high-quality items will be cheaper here than where they are exported to.

here is a nice table in the german wikipedia to illustrate my point, and here a different approach to quantify these differences.