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2004 Printer Supplies Vendors, third parties and CIPRA companies collected more than $1.2 billion on sales of ink, toner and dot matrix cartridges in 2003.   This meant that revenues were up 10% compared with 2002.   In PRC’s previous report, the market was expected to soften considerably under expectations that the inkjet market would flatten out in 2003 and beyond.  However, shipments of inkjet and inkjet MFP printers rose an astonishing 21% in 2003. Two trends, or applications, were identified as the reason for the continued strong growth in the inkjet market.  First, consumers were purchasing MFPs as office products rather than printers.  That is to say, MFPs were an inexpensive way to bring copying, faxing and even scanning into the household or SOHO environment.  Next, it would appear that the long anticipated mass adoption of home photography through photo printers was underway. Leading the way in revenue was inkjet cartridges at approximately $636 million in 2003.  Toner was close behind at $578 million.  Ink is expected to maintain the leadership role annually through 2007. Overall Market Cartridge shipments at 28.4 million units -- up 22% in 2003. Cartridge revenues at $1.2 billion -- up 10% in 2003. Vendor revenues at $962 million – up 7% in 2003. Third party revenues at $77 million – up 60% in 2003. CIPRA revenues at $190 million – up 8% in 2002. HP increased its share slightly to 45% of revenues in 2003. Lexmark’s share dropped two points to 15% share. CIPRA’s share remained relatively constant at 16% share while third party share rose two points to 6%. 15% unit growth and 7% revenue growth forecast for 2004