We are currently using the following API to retrieve the country set on a Symbian device.

QLocale QLocale::system ()
QLocale systemLocale = QLocale::system();
country = QLocale::countryToString(systemLocale.country());

The API always returns UK as the country code irrespective of the country set on the device.
Eg : Returns the country code as UK when the country set on the device is India.