Xerox CEO Anticipates Increased Market Share
Jun 11, 2004
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Business appliance maker Xerox Corp. said it sees increased market share and brisk equipment sales boosting earnings in the next few quarters. According to the company, strong sales of copiers and printers helped the Stamford, CT, U.S.-based company report better than expected first-quarter earnings in April.

"We've had five quarters of equipment sale revenue increases, so we're on a good roll," chief executive Anne Mulcahy said. Ms. Mulcahy said sales growth would be across the board, and not just in copiers and printers. "We sell a lot of integrated solutions, managed services that have our technology embedded in them; we sell lots of multi-function devices and we are gaining share in just about all the key categories we participate in," she said.

Ms. Mulcahy, who was appointed Xerox CEO in 2002, has guided the company through scandal and financial losses and steered it back to profitability. Along the way, it trimmed billions in costs by shedding more than 15,000 jobs, moving major manufacturing overseas and cutting unprofitable assets. She said the industry needed to focus more on solutions to customer problems, rather than pushing products, and reducing the cost and complexity of hardware.

"The focus was always on the technology. We're changing that. We've been living in a world where we keep upgrading and replacing devices, and I think that world is coming to an end," she said. "It's about optimizing your infrastructure and managing your assets, multi-function versus single function…it's something a lot of our customers are thinking about." (Reuters)

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