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Lexmark ‘to revamp office products’

By Paperstone on July 16, 2008 in Office Supplies

One of the world’s largest office machines manufacturers has suffered a drop in its share price after revealing a decline in sales of office products over the last year.

Shares in Lexmark dipped by 12 per cent after the revealing of its financial results, which uncovered a 42 per cent drop in the number of Lexmark inkjet cartridges sold during 2007.

As a result, bosses at Lexmark stated that they will overhaul the company’s outlook, targeting future office products ranges at the higher end of the market, in an attempt to shed its low-cost image, Reuters reports.

Paul Curlander, Lexmark chief executive, said: "A key element in our strategy is the development of industry-leading products and technology and we made good progress here in the first quarter of 2008 with the introduction of our new professional series and home and student inkjet product lines."

Earlier this month, Lexmark launched a large environmental campaign targeting homes, offices and businesses in the UK.

Lexmark’s Earth Month – which runs all the way through April – aims to improve the recycling of printer cartridges, attempts to persuade offices to print documents less and use more eco-friendly office supplies.

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