Technology News

The Beginning Xerox was founded in 1906 in New York. The company was called The Haloid Photographic Company which produced photographic paper and equipment. The name was preserved until 1961 when the company was renamed Xerox. Xerox released the first photocopier – Xerox 914 - in 1959. The product was very successful, bringing revenues of $60 million US dollars by the end of 1961. In 1963, Xerox launched the first desktop copier. Many other releases followed establishing Xerox as a leading office solutions provider. Canon was founded in 1937 in Tokyo, Japan. The company manufactured cameras, photocopiers, steppers and computer printers. Canon launched the first photocopier Canofax 1000 in 1965. They released various models which were considered innovative and produced good sales, but they still faced heavy competition from Xerox. With a new managing director and the new color photocopier, Canon had a growth in sales between 1975 and 1985. This continued to bring important revenues