In 1958,
It appeared that the 914 might do what no other machine could do. If it worked as intended, it would produce hassle-free copies on plain paper at the press of a button.
But Arthur D. Little concluded that the 914's projected $2,000-per-machine cost would doom it as a mass-market product. According to the reasoning at the time, the copier would appeal only to a company that made as many as 100 copies a day, a number that then seemed absurdly high. The 914 "has no future in the office copying market," the consultants informed IBM, which was considering a joint venture with Haloid Xerox. Snubbed by IBM, Haloid Xerox pressed ahead without the benefit of a deep-pocketed partner. When the copier hit the market in March 1960, it was a runaway success. Haloid Xerox dropped the first half of its name in 1961, underscoring its astonishing triumph in the then-emerging field of xerography (from the Greek words xeros, meaning "dry," and graphein, meaning "writing.")