How is Xerox dealing with them?
Like most companies, we’re carefully monitoring and participating in the discussions in Washington about pensions and health care. At the same time, we’re using our healthy financial position to remain fully funded on a current liability basis. Xerox puts about 5% of total revenue into R&D. What kind of new products are emerging? Xerox is the leading provider of digital color printing technology, with the industry’s most advanced and broad portfolio of color systems. With the number of color pages in the industry increasing 20% per year, we have grown color revenue at a similar rate. Despite this strong growth, only 3% of the total pages produced in businesses today are produced on color devices. We expect new color technologies and services to drive that number to 10% of pages by 2008, fueling a $22-billion market opportunity. Xerox and our partner Fuji Xerox are jointly investing about two-thirds of a combined $1.5 billion annual research and development budget on color. Over the las
