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DESCRIPTION OF BUSINESS
16 Xerox Annual Report 2005
Overview
References herein to “we,” “us,” “our,” the “Company” and “Xerox”
refer to Xerox Corporation and its subsidiaries unless the context
specifically states or implies otherwise.
Xerox is a $15.7 billion technology and services enterprise and a
leader in the global document market. Wedevelop, manufacture,
market, service and finance a complete range of document
equipment, software, solutions and services. Our international
operations represented approximately one-half of our total revenues
in 2005. Our largest subsidiary outside the United States is Xerox
Limited, which operates predominantly in Europe. We conduct our
Latin American operations through subsidiaries or distributors in
over 38 countries. Fuji Xerox, an unconsolidated entity of which
we own 25%, develops, manufactures and distributes document
processing products in Japan, China, Hong Kong and other areas
of the Pacific Rim, Australia and New Zealand.
Global Overview
The document industry is transitioning from older technology
light-lens devices to digital systems, from black and white to color
and from paper documents to an increased reliance on electronic
documents. More and more people are creating and storing
documents digitally and using the Internet to easily exchange
electronic documents. Webelieve these trends play to the
strengths of our product and service offerings and represent
opportunities for future growth within the $112 billion market we
serve. In our coremarkets of Production and Office, we believe
we are well placed to capture core growth opportunities by
leading the transition to color and by reaching new customers
with our broadened offerings and expanded distribution channels.
We are expanding our core markets with Document Services and
we are creating new market opportunities with digital printing
as a complement to traditional offset printing, which we refer
to as the “Eligible Offset” market. Our Document Services are
organized around three offerings: Xerox Office Services, where
we help our customers reduce costs and maximize productivity
by optimizing their print infrastructure; Document Outsourcing
and Communication Services, which focuses on optimizing the
production environment; and Business Process Services, where
We develop, manufacture, market, service and finance a complete
range of document equipment, software, solutions and services.
We have over 8,000 Sales Professionals, over 12,000
Managed Service Employees at customer sites and
13,000 Technical Service Employees. In addition, we
have over 7,000 Agents and Concessionaires and over
10,000 Resellers.
Xerox is a
$15.7 billion
technology and services
enterprise and a leader in
the global document market.
Revenues by
Geography
We operate in over
160
countries worldwide.
Globally we have 55,200
direct employees.
U.S.: $8,388
Europe: $5,226
Other Areas: $2,087
($ millions)