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. Last Updated: 07/27/2016

Xerox Reports Growth in Ailing Market

Xerox, the U.S.-based office equipment corporation, said it is making inroads on the Russian market, even as the market for its products here continues to shrink.

"Last week, we summarized final results of 1999, and now can say with confidence that the year finished successfully," Igor Simonov, general director of Xerox-CIS, said in a press statement.

Xerox-CIS, the Russian subsidiary of Xerox, predicted the market for analog black and white copiers and printers would shrink by 37 percent as a result of the 1998 financial crash.

This prediction appears to have been accurate, the company said, although it is waiting until March to make final statements about shifts in the local office equipment market.

Nonetheless, Xerox-CIS maintained that it gained a 4 percent market share in relation to other manufacturers of black and white analog equipment, even though unit sales decreased.

No information was released as to Xerox-CIS' overall market share, or that of its competitors.

Meanwhile, 1999 sales of digital equipment for medium and large offices were up by 20 percent in comparison with the previous year, the company said. Total sales figures were not given.

The company attributed the widely divergent sales results between its analog and digital product lines to a shift in the market toward digital equipment.

Xerox-CIS also maintained that its market share for personal printers jumped to 7 percent at the end of 1999, up sharply from less than 1 percent the year before.