Lexmark International has announced its Q2 financial results and the trend is heading downward. The company attributed the losses towards cheaper hardware and reduced sales in ink cartridges.

According to Lexmark officials, the company erred by focusing on making and selling more expensive ink-jet devices and laser printers, rather than the low-end ink-jets that drive profits through the sale of ink-jet cartridges.

The reduced prices by Kodak, and HP’s domination have led to Lexmark’s reduction in revenue. Third party cartridges have not helped Lexmark’s profits either.

Lexmark expects a similar Q3 financial result as well as they do not have any significant strategy to negate the descending revenue.

via e Week