Lexmark bows out of inkjet market

Printing and imaging supplier Lexmark is quitting the inkjet market in a bid to make annualised savings of $95m (£60m).

Printing and imaging supplier Lexmark is quitting the inkjet market in a bid to make annualised savings of $95m (£60m).

The vendor today confirmed that it expects to let around 1,700 people go as a result of its decision, which will involve closing its inkjet supplies plant in the Philippines.

Job cuts“Today’s announcement represents difficult decisions, which are necessary to drive improved profitability,” said CEO Paul Rooke in a statement to Lexmark investors.

“Our investments are focused on higher-value imaging and software solutions, and we believe the synergies between imaging and the emerging software elements of our business will continue to drive growth across the organisation,” he said.

The actions will also include eliminating further inkjet development, including costs related to facilities, tooling, equipment, contract termination and scrapping in-process inventory, which it will have largely completed by the end of 2013.

It said it would consider a sale to interested parties, and will continue to provide service, support and aftermarket supplies to its installed base as needed.

MicroScope+

Content

Find more MicroScope+ content and other member only offers, here.

Read more on Printers

Start the conversation

Send me notifications when other members comment.

By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Please create a username to comment.

-ADS BY GOOGLE

ComputerWeekly

SearchITChannel

Close