Product details

Xerox Corporation (Xerox) enjoyed virtual monopoly during the 1960s and early 1970s, in copier technology protected by its patents. However, throughout the 1970s and 1980s Xerox struggled to maintain its leadership position and focused on perfecting a copier machine, instead of taking up the challenge from the new products that threatened its dominance. Consequently, Xerox's market share and revenues kept declining. To overcome the business pressure, Xerox diversified into financial services, typewriters, workstations and software and laser printers business, but failed to commercialise them. Over the years, several CEOs attempted to restructure and transform the company, but were not able to sustain the growth trajectory. Amidst its falling fortunes, the only silver lining for Xerox was its joint venture with Fujifilm Holdings (Fujifilm)-Fuji Xerox since the 1960s, which became a critical asset for Xerox. With a series of startling product breakthroughs and no-less-startling management, manufacturing and technology lessons, Fuji Xerox had been the savior of Xerox. Later, Xerox had to split its business into two companies, to successfully navigate the challenging market environment and overcome shareholder pressure. Yet, Xerox was not able to minimise the revenue declines and was forced to enter into a deal with Fujifilm to combine Fuji Xerox and Xerox. A section of analysts termed this development as a smart move on the part of Xerox and Fujifilm to drive down the costs in the extremely competitive office technology market. However, Carl Icahn along with Darwin Deason, the first and third largest shareholders respectively in the iconic copier brand, termed the deal as 'final death knell' for Xerox and urged the other shareholders to vote against the merger. Meanwhile, the industry watchers hoped to see the fading copier king's fortunes rise under the new owner Fujifilm, once again.