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Konica Minolta revenues decline as prices come crashing down

The Hungarian subsidiary of Japanese optical products manufacturer posted Ft 3.23 billion turnover in 2004, down Ft 80 million year-on-year. The decline was due to the fact that the price of monochrome laser printers, went down by 20%-25%, while color printers and multifunctional office devices became 50% and 40% less expensive, respectively. Konica Minolta Hungary Kft sold 3,500 photocopiers in 2004 and its color document management business grew by 380% in comparison with 2003 figures. The company sold 1,030 office laser printers, with Konica Minolta maintaining its 13% market stake in Hungary.