photocopying see photocopier . xerox corporation xerox headquarters in norwalk type public traded as nyse xrx s & p 500 component industry document services business process services 1 founded april 18 1906 ; 110 years ago 1906 04 18 as the haloid photographic company rochester new york u.s. founders joseph c. wilson chester carlson headquarters norwalk connecticut u.s. area served worldwide key people ursula burns chairman & ceo products office printers production printers & digital presses multi function printers wide format printers projectors scanners copiers and other office equipments 2 services business processes document management and outsourcing services revenue us 18.04 billion 2015 3 operating income us 645 million 2015 3 net income us 488 million 2015 3 total assets us 24.80 billion 2015 3 total equity 9.43 billion 2015 3 number of employees 140 800 2015 3 website www.xerox.com xerox corporation z r ks is an american global corporation that sells business services and document technology products . 4 xerox is headquartered in norwalk connecticut moved from stamford connecticut in october 2007 5 though its largest population of employees is based around rochester new york the area in which the company was founded . the company purchased affiliated computer services for 6.4 billion in early 2010 . 6 as a large developed company it is consistently placed in the list of fortune 500 companies . researchers at xerox and its palo alto research center invented several important elements of personal computing such as the desktop metaphor gui the computer mouse 7 and desktop computing . 8 these concepts were frowned upon by the then board of directors who ordered the xerox engineers to share them with apple technicians . the concepts were adopted by apple and later microsoft . with the help of these innovations apple and microsoft came to dominate the personal computing revolution of the 1980s whereas xerox was not a major player . 9 contents 1 history 1.1 the xerox 914 1.2 1960s 1.3 1970s 1.4 1980s 1.5 1990s 1.6 2000s 1.7 2010s 1.8 digital printing 1.9 palo alto research center 2 chief executives 3 products and services 4 corporate structure 5 rank xerox 6 accounting irregularities 7 character substitution bug 8 trademark 9 see also 10 notes 11 references 12 external links history edit the xerox 914 was the first one piece plain paper photocopier and sold in the millions . xerox was founded in 1906 in rochester as the haloid photographic company 10 which originally manufactured photographic paper and equipment . in 1938 chester carlson a physicist working independently invented a process for printing images using an electrically charged drum and dry powder toner . however it would take more than 20 years of refinement before the first automated machine to make copies was commercialized using a document feeder scanning light and a rotating drum . joseph c. wilson credited as the founder of xerox took over haloid from his father . he saw the promise of carlson s invention and in 1946 signed an agreement to develop it as a commercial product . wilson remained as president ceo of xerox until 1967 and served as chairman until his death in 1971 . looking for a term to differentiate its new system haloid coined the term xerography from two greek roots meaning dry writing . haloid subsequently changed its name to haloid xerox in 1958 and then xerox corporation in 1961 . 11 before releasing the 914 xerox tested the market by introducing a developed version of the prototype hand operated equipment known as the flat plate 1385 . the 1385 was not actually a viable copier because of its speed of operation . as a consequence it was sold as a platemaker to the offset lithography market perhaps most notably as a platemaker for the addressograph multigraph multilith 1250 and related sheet fed offset printing presses . it was little more than a high quality commercially available plate camera mounted as a horizontal rostrum camera complete with photo flood lighting and timer . the glass film plate had been replaced with a selenium coated aluminum plate . clever electrics turned this into a quick developing and reusable substitute for film . a skilled user could produce fast paper and metal printing plates of a higher quality than almost any other method . having started as a supplier to the offset lithography duplicating industry xerox now set its sights on capturing some of offset s market share . the 1385 was followed by the first automatic xerographic printer the copyflo in 1955 . the copyflo was a large microfilm printer which could produce positive prints on roll paper from any type of microfilm negative . following the copyflo the process was scaled down to produce the 1824 microfilm printer . at about half the size and weight this still sizable machine printed onto hand fed cut sheet paper which was pulled through the process by one of two gripper bars . a scaled down version of this gripper feed system was to become the basis for the 813 desktop copier . the xerox 914 edit main article xerox 914 the company came to prominence in 1959 with the introduction of the xerox 914 12 the most successful single product of all time . the 914 the first plain paper photocopier was developed by carlson and john h. dessauer ; 13 it was so popular that by the end of 1961 xerox had almost 60 million in revenue . the product was sold by an innovative ad campaign showing that even monkeys could make copies at the touch of a button simplicity would become the foundation of future xerox products and user interfaces . revenues leaped to over 500 million by 1965 . 1960s edit the company expanded substantially throughout the 1960s making millionaires of some long suffering investors who had nursed the company through the slow research and development phase of the product . in 1960 a xerography research facility called the wilson center for research and technology was opened in webster new york . in 1961 the company changed its name to xerox corporation . xerox common stock xrx was listed on the new york stock exchange in 1961 and on the chicago stock exchange in 1990 . in 1963 xerox introduced the xerox 813 the first desktop plain paper copier realizing carlson s vision of a copier that could fit on anyone s office desk . ten years later in 1973 a basic analogue color copier based on the 914 followed . the 914 itself was gradually sped up to become the 420 and 720 . the 813 was similarly developed into the 330 and 660 products and eventually also the 740 desktop microfiche printer . xerox s first foray into duplicating as distinct from copying was with the xerox 2400 introduced in 1966 . the model number denoted the number of prints produced in an hour . although not as fast as offset printing this machine introduced the industry s first automatic document feeder paper slitter and perforator and collator sorter . this product was soon sped up by fifty percent to become the xerox 3600 duplicator . meanwhile a small lab team was borrowing 914 copiers and modifying them . the lab was developing what it called long distance xerography ldx to connect two copiers using the public telephone network so that a document scanned on one machine would print out on the other . the ldx system was introduced in 1964 . many years later this work came to fruition in the xerox telecopiers seminal to today s fax machines . the fax operation in today s multifunction copiers is true to carlson s original vision for these devices . in 1968 c. peter mccolough a longtime executive of haloid and xerox became xerox s ceo . the same year the company consolidated its headquarters at xerox square in downtown rochester new york with its 30 story xerox tower . xerox embarked on a series of acquisitions . it purchased university microfilms international in 1962 electro optical systems in 1963 14 and r.r. bowker in 1967 . in 1969 xerox acquired scientific data systems sds which it renamed the xerox data systems xds division and which produced the sigma line and its successor xds 5xx series of mainframe computers in the 1960s and 1970s . xeros sold xds was to honeywell in 1975 . xerox tower in rochester new york served as headquarters in 1968 1969 stamford connecticut served as headquarters from 1969 to 2007 former manufacturing facility in henrietta new york constructed in the 1960s and sold to harris rf communications in 2010 . xerox canada head office at north american life centre xerox tower north york ontario 1970s edit archie mccardell was named president of the company in 1971 . 15 during his tenure xerox introduced the xerox 6500 its first color copier . 16 during mccardell s reign at xerox the company announced record revenues earnings and profits in 1973 1974 and 1975 . 17 john carrol became a backer later spreading the company throughout north america . citation needed in the mid 1970s xerox introduced the xerox 9200 duplicating system . originally designed to be sold to print shops to increase their productivity it was twice a fast as the 3600 duplicator at two impressions per second 7200 per hour . it was followed by the 9400 which did auto duplexing and then by the 9500 which was which added variable zoom reduction and electronic lightness darkness control . citation needed in a 1975 super bowl commercial for the 9200 xerox debuted an advertising campaign featuring brother dominic a monk who used the 9200 system to save decades of manual copying . 18 dominic portrayed by jack eagle became the face of xerox into the 1980s . citation needed following these years of record profits in 1975 xerox resolved an anti trust suit with the united states federal trade commission ftc which at the time was under the direction of frederic m. scherer . the xerox consent decree resulted in the forced licensing of the company s entire patent portfolio mainly to japanese competitors . within four years of the consent decree xerox s share of the u.s. copier market dropped from nearly 100 % to less than 14 % . 19 in 1979 xerox purchased western union international wui as the basis for its proposed xerox telecommunications network xten for local loop communications . however after three years in 1982 the company decided the idea was a mistake and sold its assets to mci at a loss . 20 1980s edit david t. kearns a xerox executive since 1971 took over as ceo in 1982 . the company was revived in the 1980s and 1990s through improvement in quality design and realignment of its product line . attempting to expand beyond copiers in 1981 xerox introduced a line of electronic memory typewriters the memorywriter which gained 20 % market share mostly at the expense of ibm . 14 in 1983 xerox bought crum & forster an insurance company and formed xerox financial services xfs in 1984 . 14 in 1985 xerox sold all of its publishing subsidiaries including university microfilms and r.r. bowker . 21 1990s edit xerox pixellated x logo introduced in 1994 in 1990 paul allaire a xerox executive since 1966 succeeded david kearns who had reached mandatory retirement age . allaire disentangled xerox from the financial services industry . development of digital photocopiers in the 1990s and a revamp of the entire product range again gave xerox a technical lead over its competitors . in 1990 xerox released the docutech production publisher model 135 ushering in print on demand . digital photocopiers were essentially high end laser printers with integrated scanners . soon additional features such as network printing and faxing were added to many models known as multi function machines or just mfms which were able to be attached to