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Industry News & Speculation

Canon to no longer make HP LaserJets?

  • As reported by Nikkei Asian News, Canon’s CEO, Fujio Mitarai stated that Canonwill end its 35-year relationship with HP, if Xerox takes over HP
  • “The foundation of this partnership is, above all else, built upon a relationship of trust between the top management of both companies,” including HP CEO Enrique Lores and Tuan Tran, head of its printing division, Mitarai said in a written interview.
  • “At the same time, it also involves a great deal of technological exchange gradually established over the decades-long relationship.” Mitarai added that such a relationship “is not something that can be built overnight.”
  • HP, which sources most of its LaserJet printers and MFP product from Canon, accounts for 14% of Canon’s worldwide sales
    • HP contributed about 540 billion yen ($5.01 billion) of Canon’s 3.95 trillion yen in 2018 revenue
    • HP shipped 9.8 million printers during last quarter worldwide, many of which were LaserJet models made by Canon
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