Unfortunately, price-cutting was not the only problem confronting 3M as it entered the s.
The company cut about 5, jobs. While revenues increased only marginally, net income increased by about 20 percent after excluding nonrecurring items.
Early in the company finally adopted its nickname as its formal moniker, officially becoming 3M Company. Particularly galling was the loss of the cassette tape market, which two Japanese companies, TDK and Maxell, dominated by engaging in price-cutting.
Operations, "Almost everything depends on a coated abrasive during some phase of its manufacture. Existing product lines did well, and 3M's ventures into magnetic media provided excellent returns.
We've achieved consistent, profitable growth by creating innovative products, establishing strong relationships with customers and boosting operational efficiency. Investors should expect that 3M will continue to make adjustments along these same lines into the future.
Byrne, Harlan S. The company is notable among diversified American corporations for its growth by largely internal means rather than by means of large-scale acquisitions.
Online Research Some items such as newspapers, articles, photos and objects are available online. For example, an important new 3M product line developed in the s consisted of films to enhance the brightness of electronic displays, including those found on laptop computers, cellular phones, LCD televisions, and personal digital assistants.