Company is phasing out production, development of inkjet printers
LEXINGTON, Ky. (Dec. 4, 2012) — Lexmark International showcased some of its new products Tuesday at a media event at its headquarters.
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Lexmark is phasing out production and development of its inkjet printers and is focusing on providing higher value imaging and software solutions, as well as data management services. In August, the company announced its restructuring plans, which include cutting 1,700 jobs worldwide — almost 13 percent of its workforce. About 550 Lexington jobs reportedly are on the chopping block.
The action is expected to result in annualized savings of $95 million once fully implemented, according to Lexmark. This is the second restructuring plan in less than a year for Lexmark, which said in January it would cut 625 jobs
As it moves forward in a digital world, Lexmark believes “the synergies between imaging and the emerging software elements of our business will continue to drive growth across the organization,” said Paul Rooke, Lexmark chairman and CEO.
In the past two years, Lexmark has acquired at least five software companies with the technology to help it create new business solutions products and services. Just this year, it invested $212 million to acquire three software companies.
In October, Lexmark announced several new laser printers and multifunction products (MFPs) built on an enhanced technology platform that delivers productivity-enhancing solutions. The MFPs include an intuitive touch screen that provides access to applications that reduce the complexities of manual processes and improve productivity.
The integration of smart MFPs with the Perceptive Software portfolio helps improve infrastructure efficiency and team performance to propel growth, the company said.
Lexmark also announced its Secure Content Monitor, a solution that mitigates risk and protects companies and agencies from potential threats to confidential information, profits and productivity by enabling businesses to automatically track and audit sensitive information.
In addition to its new laser products, other products include:
– Perceptive Mobile for Windows allows users to participate in business processes, seamlessly view and interact with associated content, update a case and make decisions from their Windows 8 device virtually anywhere.
Perceptive eAuthorize, powered by AssureSign, allows any document to be electronically sent to any Perceptive Software user or third party in order to obtain a compliant electronic signature, followed by automatic uploading and storage of the signed document in Perceptive Software’s enterprise content management solution.
“The intelligence offered through Lexmark’s devices is a key differentiator, and when combined with our state-of-the-art imaging technology, we are able to provide our customers unmatched capabilities in a solutions portfolio,” said Marty Canning, Lexmark executive vice president and president of Imaging Solutions and Services. “Our … MFPs are the backbone to the many workflow solutions we provide, and this close marriage between our hardware and software portfolios is what gives our customers access to unavailable information and improves customer satisfaction.”
Learn more about Lexmark’s products at lexmark.com.
The Lane Report will give a more detailed report on Lexmark’s operations in a future issue.
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