Lexmark has announced it will stop producing inkjet printers in a restructuring move aimed at improving profitability. The company, not one of the larger players in the inkjet game, will continue to manufacture laser printers. The restructuring will cut about 13 percent of Lexmark's workforce (1,700 workers) and the company plans to sell around 1,000 patents related to its inkjet technologies. Inkjet profits have fallen off as laser printers, traditionally more expensive, have become more affordable.
Lexmark said it expects this move will equal a savings of $85 million next year, and a final annual savings of $95 million once the plan is fully implemented.