Lexmark International Will Stop Manufacturing Inkjet Printers

Lexmark To Stop Manufacturing Inkjet Printers

Lexmark International, Inc. provides businesses of all sizes with a broad range of printing and imaging products, software, solutions and services that help customers to all their printing needs for an affordable cost. Yet recently, Lexmark had announced that the company will stop manufacturing Inkjet Printers, and instead they will focus their production on manufacturing Laser Printers, which as we all know, laser type of printers are the most absolute needed equipment in every type of businesses.

This will lead to the closure of one of their factory in the Philippines by the end of 2015. Also, the company affirmed in a release, that the lay off will get rid of about 1,700 jobs worldwide. Since Lexmark will then withdraw from the stumbling market of inkjet printers, the shares of the company jumped over 15% for a high of $22.75. The revenues of Lexmark International as compared to last year, drop from about 35 percent, this includes their revenues from inkjet printers and printer supplies including ink and laser toner cartridges. As compared to last year, the company notice a decline of about 9 percent to their inkjet and laser department.

From the increasing popularity of high end devices like smartphones and tablets, which make it easier for tech users to store and retrieve anything they wanted from the web granted that there's an internet connection. Obviously it results to the used of personal computers, and printers less often.

Paul Rooke, Chairman & Executive of Lexmark International, said this from a company statement, "Today's announcement represents difficult decisions, which are necessary to drive improved profitability and significant savings", he continued "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 the growth across the organization."

This announcement has been similar from Kodak's released last week, which stated that Kodak would sell their company's Camera-Film business and focus on their printing services. Which confirmed that company has been trying to sell their patent portfolio for months, and filed for a bankruptcy in the month of January. Whereas HP Hewlett Packard had a reversed situation after CEO Meg Whitman took over the company of HP.

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Inkjet Printers,laser toner cartridges,Lexmark,Tehcnology,