Fujifilm Holdings Corp threatens to compete with Xerox Corp unless tech agreement is renewed

Xerox has already started sourcing products from new vendors and has made it lucidly clear that it may not renew an agreement with Fujifilm.

On Wednesday, Fujifilm Holdings Corp threatened Xerox Corp stating it will compete with it in the Asia Pacific region and challenge it in Europe and America unless Xerox renews its tech agreement in 2021.

On Monday, Xerox had stated it would start sourcing products from new vendors so as to lower its dependency on Fujifilm. Further, it had also stated it may not renew an agreement with the Fuji Xerox joint venture.

In his letter to Xerox’s CEO John Visentin, Fujilfilm CEO Shigetaka Komori wrote, “While Xerox presently has no marketing facilities here in Asia- Pacific, we have global infrastructure that we can utilize for marketing worldwide.”

“It would be enormously costly and difficult for Xerox to gain business in Asia Pacific.”

The 56-year old joint venture Fuji Xerox, in which Fujifilm has a 75% stake while the remaining 25% is with Xerox, handles contracts that supply global clients with Xerox services in the United States and Europe, as well as Fuji Xerox services in Asia.

Xerox was not immediately available for comment outside regular business hours.

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