GE 2003 Annual Report Download - page 2

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ge 2003 annual ≥epo≥t 13
TECHNOLOGY
how do you
defeat
the
commodity
threat?
one
In 2003, GE introduced dozens of new products for industries and consumers, using advanced materials
and designs to deliver unprecedented levels of performance. But that was last year. Without new technical
breakthroughs, a company’s products can become mere commodities subject to deflation and shrinking
margins. So GE invests in innovation at every point in the economic cycle to build market share and expand
margins, open up new markets and deepen relationships with customers. The challenge GE and its
researchers face every day is to understand the dynamics of industries, make the right bets on future
technologies, and move innovations from the lab to the marketplace.