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6.1. XEROX

The first example of services innovation comes from an industrial powerhouse of the twentieth century, Xerox, that is now in the middle of a vital transition to a more services-oriented business.

Xerox has a proud tradition as the inventor of the xerographic process of copying images onto paper. It parlayed this invention into a multibillion-dollar business in the 1970s and remains a world leader in copiers and printers to this day. This endurance is all the more impressive for having to cope with a settlement decree with the Federal Trade Commission (FTC) in 1975 that required Xerox to license its core patents. The company encountered an enormous increase in competition (as intended by the FTC settlement), most of it from companies based in Japan (perhaps not intended by the FTC). Xerox's revenue share of the copier market fell from 80 percent in 1976 to 18 percent in 1982, which nearly sank the company. But Xerox fought back by making tremendous advances in the quality of its products and the technology used in them.


  

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