Lexmark International executives told employees on Wednesday that the company is changing the official name of its inkjet printer division to better reflect its strategy and product offerings.
The Consumer Products Division, as it has been called, has been renamed the Imaging Solutions Division, Executive Vice President Paul Rooke told employees at a 1 p.m. meeting.
Rooke, who heads the division, noted that since 2007, Lexmark "has been transitioning our CPD business from a low-end, low-usage consumer-focused business to a business with higher-value, higher-usage inkjet devices designed to meet the needs of small office/home office and small to midsized business customers."
Lexmark's inkjet division has struggled since the latter half of 2005 as customers bought the printers, which are often sold for little or no profit, but then didn't buy enough of the highly profitable ink to meet profit expectations.
Since 2006, Lexmark has walked away from 20 percent, and then 30 percent more, of its inkjet printer sales in an attempt to get away from those people who don't print enough.
It has focused product introductions on higher-usage segments, such as all-in-ones, which include scan, copy and sometimes fax functions. Plus, it's developed many wireless inkjet printers, which are often used by multiple computers, meaning more ink used per printer.
And the company is focusing its marketing dollars on countries with higher print usage.
The name, Rooke said, "better reflects our broader scope of multi-function products, including our 2008 Professional and Home Student Series All-In-Ones, which have received awards from industry-leading publications around the world."