by
David Nagel
Executive
Producer
dnagel@digitalmedianet.com
Corel today
presented an outline of its plans to recover from recent financial
woes. Almost surprisingly, the plans include a rededication to
its portfolio of creative applications, and, no so surprisingly,
a gradual shift toward Web graphics through new versions of products
and potential acquisitions of third-party products or even third
parties.
In a prepared
statement, the company announced: "Corel will leverage its
solid foundation as a global technology leader with over 15 years
of experience to enhance its relationships with existing customers
while targeting new customers in emerging markets fueled by the
rapid expansion of the Web and the increasing demand for graphics-rich
visual communication."
"This strategy
represents the start of an important new chapter in Corel's history.
It is a long-term program based on three key principles that will
form the basis of Corel's business philosophy for the future:
Dynamic Technology, Dedication to the Customer and Disciplined
Financial Management," said Derek J. Burney, president and CEO
of Corel, in the statement.
The company
says its creative products will provide the primary engine for
revenue growth. Corel's framework for this engine will unfold
in three phases. The first phase includes the rollout of CorelDraw
10 suite for the Macintosh, as well as new versions of Painter,
Bryce, KnockOut and KPT.
Phase 2 (the
next one or two years) will see Corel expanding the scope and
reach of its current suite of creative products through investments
in infrastructure and new growth opportunities. Corel is taking
steps to transform its current graphics suite to deliver creative
solutions to customers who work primarily on the Web.
The final
phase sees Corel acquiring new ventures to leverage its current
technologies.
