¾ By 1989, it held 21% of its home market, higher than
Xerox’s 15% in the U.S. and Rank Xerox’s in
Europe(exhibit 3);
¾ 14% of Fuji Xerox’s sales went to Xerox, representing
about $500 million in 1989. The balance of trade
between the two was then strongly in favor of Fuji
Xerox(exhibit 8);
¾ Fuji Xerox’s growing technological capabilities are
evident from its declining royalty payments to Xerox, its
rising R&D spending, and its increasing technology
receipts from Xerox(exhibit 9);
¾ Un a related pattern, Fuji Xerox filed a rapidly growing
number of patents and, by the late 1980s, designed
virtually all the machines it sold (exhibit 10).