Word: xeroxed
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Rivals promptly began lining up to chip away at Xerox's 70% chunk of the U.S. office-copier market. IBM last month introduced a third line of copiers. Minnesota Mining & Manufacturing Co. is planning a massive sales effort for its new plain-paper VHS copiers. Last week Eastman Kodak Co. weighed in with its Ektaprint 150 series, a supersophisticated elaboration of the Ektaprint 100 machine first marketed last fall. At the touch of a few buttons, the most expensive machine in Kodak's new line arranges multipage documents and copies, collates and staples them-all at the rate...
Price Cuts. Both the new Kodak line and IBM's machines are aimed at a promising new market-users of 30,000 or more copies a month, who now usually rely on in-house printing shops. Most of Xerox's high-volume machines are used in the 20,000-copy range. Xerox's response has been to cut prices almost across the board, in an effort to encourage users to churn out more copies from existing machines, while developing new copiers to capture its share of the extremely high-volume business...
...rivalry in copiers can only add to the company's problems. Xerox had got into computers in a diversification move but last year was forced to quit the mainframe-computer business (TIME, Aug. 4), taking an $84.4 million write-off-which was not included in the 1.8% profit decline...
...Xerox officials, with their usual air of confidence, do not appear excessively worried by the new competitive threat. They note that the company has long expected the copier market to become quickly saturated, even though sales are still growing. Saturation, says Archie McCardell, Xerox's No. 2 executive, behind Chairman C. Peter McColough, "will happen but much more slowly than we thought...
Wall Street analysts generally believe Xerox is not in a slump but a lull caused by the natural constraints of being an industry leader and thus the target everybody shoots at. They expect the company's profits to be flat this year but to pick up in 1977 as the 9200 and other new products begin making a real contribution to earnings. In any case, Xerox is still looking ahead. Having done so much to create the mountain of paper that businessmen deal with daily, Xerox is now working toward helping them eliminate it, or so officials privately admit...