Best Buy drops Lexmark inkjets
Lexmark (Latest price: LXK) inkjet printers are no longer being sold in 1,200 Best Buy stores nationwide, a company spokesman confirmed today according to Jere Downs mailto:jdowns@courier-journal.com .
He Said
"The loss of that retail business is a sign of continuing turmoil in the printer manufacturing business and a blow to Lexmark, whose stock price has dropped by nearly half in the last year.Lexmark shares were down 32 cents at $34.38 this morning.
Lexmark International, based in Lexington, will release its first quarter earnings tomorrow. Company spokesman Todd Hastings declined comment, on the decision by Best Buy.
Best Buy spokesperson could not immediately be reached for comment.The inkjet printer business, dominated by Hewlett Packard and Canon, has been undergoing consolidation in recent years as consumers increasingly move toward storing and sharing data on computers and wireless devices.
“Best Buy is one of the best run retailers. Lexmark has been in trouble for awhile and wouldn’t want a situation where its customers are left in a lurch because of a failed vendor,” Rob Enderle, a technology expert and owner of the Enderle Group, a California consulting firm said.
“As we move more and more away from paper you’ll see the marginal printer vendors dropping out and HP, and possibly Canon, will likely be the last ones left standing.”
He Said
"The loss of that retail business is a sign of continuing turmoil in the printer manufacturing business and a blow to Lexmark, whose stock price has dropped by nearly half in the last year.Lexmark shares were down 32 cents at $34.38 this morning.
Lexmark International, based in Lexington, will release its first quarter earnings tomorrow. Company spokesman Todd Hastings declined comment, on the decision by Best Buy.
Best Buy spokesperson could not immediately be reached for comment.The inkjet printer business, dominated by Hewlett Packard and Canon, has been undergoing consolidation in recent years as consumers increasingly move toward storing and sharing data on computers and wireless devices.
“Best Buy is one of the best run retailers. Lexmark has been in trouble for awhile and wouldn’t want a situation where its customers are left in a lurch because of a failed vendor,” Rob Enderle, a technology expert and owner of the Enderle Group, a California consulting firm said.
“As we move more and more away from paper you’ll see the marginal printer vendors dropping out and HP, and possibly Canon, will likely be the last ones left standing.”
posted by Keno at 8:56 AM
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