How Canon, HP, Epson, Brother Lost $1.345 Billion to The Chinese Ink and Toner Cartels. (2024-2025)

toner · 2025-05-01T15:47:22+00:00

The Chinese Ink & Toner Cartels Deal $1.345 Billion Blow to Canon, HP, Epson, and Brother in 2024-2025. In a devastating blow to the printing industry’s established giants, Canon, HP, Epson, and Brother have collectively lost $1.345 billion USD in potential revenue in 2024-2025 so far, largely due to the rise of Chinese counterfeit ink and toner cartels that flood the global market with cheap, non-compliant alternatives. Recent earnings reports from key players in the third-party consumables sector — Ninestar, Hubei Dinglong, Planet Image (Aster Graphics), and General Plastic Industrial Co., Ltd. — paint a stark picture of the growing dominance of these aftermarket giants: Ninestar: $812 million (first quarter results) Hubei Dinglong: $208 million (first quarter results) Planet Image (Aster): $149.8 million (full year results) General Plastic Industrial Co., Ltd.: $175 million USD, (full year results) In total so far, the $1.345 billion USD loss is a catastrophic figure for OEMs who depend on the ongoing sales of printer cartridges for revenue. This trend, especially in the wake of Chinese-backed suppliers’ aggressive market penetration, is showing no signs of slowing down. Impact on Honest Recyclers and Remanufacturers The rise of these cartels also hurts legitimate toner recyclers and remanufacturers worldwide. These businesses rely on genuine OEM cartridges, investing in sustainability and compliance. However, they are increasingly squeezed by the flood of cheap, cloned products that often disregard regulations. The price advantage of these counterfeits makes it nearly impossible for ethical players to survive. The Cartels and the Carnage These suppliers — often accused of infringing on intellectual property, bypassing regulatory standards, and exploiting global trade loopholes — are not just competing; they are winning. Their products, branded under names like G&G, Lexmark, Pantum, and others, continue to flood markets at rock-bottom prices that OEMs simply cannot match. For example, Ninestar, which accounts for the largest share of this loss with $812 million in sales, has faced widespread criticism over its ties to forced labor allegations and intellectual property violations. Despite this, its dominance in the aftermarket sector continues to grow, offering mostly clone toner cartridges that deliver significant cost savings to consumers — and a crippling blow to brands like HP and Canon that rely on their proprietary ink and toner technology for profit. General Plastic Industrial (Katun) : A More Subtle Threat While Ninestar and Hubei Dinglong dominate the headlines, General Plastic Industrial Co., Ltd. is a reminder that not all threats come from the flashiest sources. The Taiwanese company, which specializes in clone toner cartridges, reported $175 million (USD) in revenue for the full year 2024. Still, with earnings per share slipping General Plastic’s performance shows that despite challenges, the aftermarket sector is resilient and profitable — but increasingly competitive. OEMs in Crisis: Losing Billions. The combined total of $1.345 billion USD in lost revenue represents not just a decline in market share for the OEMs but also the slow erosion of their high-margin consumables business. Canon, HP, Epson, and Brother have all been forced to get creative in defending their turf, from increasing firmware updates to locking down cartridges and pushing subscription-based models like HP+. Despite these efforts, the truth remains: the Chinese are winning. The massive shift to clone toners and in cartridges, often made in China and sold at a fraction of the cost, is eating away at OEM profits. And for many consumers and businesses, the decision is clear — why pay more for an OEM cartridge when the alternative is nearly identical and significantly cheaper? A Wake-Up Call for OEMs? With more than $1.345 billion USD now in the hands of Chinese suppliers just this past year alone, the urgency for OEMs to innovate, defend their intellectual property, and restore consumer trust has never been higher. However, these companies face a multifaceted challenge — a growing shadow economy of third-party suppliers, regulatory hurdles, and rising consumer demand for more affordable alternatives. The reality is that OEMs are not just losing market share; they are losing to a system that many claim is built on the back of counterfeit products, undercutting prices, and sidestepping regulatory oversight. As the aftermarket sector pushes forward, the question remains: can Canon, HP, Epson, and Brother ever reclaim their dominance — or will they be forced to adapt to a future where counterfeit alternatives control the market?

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The Chinese Ink & Toner Cartels Deal $1.345 Billion Blow to Canon, HP, Epson, and Brother in 2024-2025.
In a devastating blow to the printing industry’s established giants, Canon, HP, Epson, and Brother have collectively lost $1.345 billion USD in potential revenue in 2024-2025 so far, largely due to the rise of Chinese counterfeit ink and toner cartels that flood the global market with cheap, non-compliant alternatives.

Recent earnings reports from key players in the third-party consumables sector — Ninestar, Hubei Dinglong, Planet Image (Aster Graphics), and General Plastic Industrial Co., Ltd. — paint a stark picture of the growing dominance of these aftermarket giants:

Ninestar: $812 million (first quarter results)
Hubei Dinglong: $208 million (first quarter results)
Planet Image (Aster): $149.8 million (full year results)
General Plastic Industrial Co., Ltd.: $175 million USD, (full year results)

In total so far, the $1.345 billion USD loss is a catastrophic figure for OEMs who depend on the ongoing sales of printer cartridges for revenue. This trend, especially in the wake of Chinese-backed suppliers’ aggressive market penetration, is showing no signs of slowing down.

Impact on Honest Recyclers and Remanufacturers
The rise of these cartels also hurts legitimate toner recyclers and remanufacturers worldwide. These businesses rely on genuine OEM cartridges, investing in sustainability and compliance. However, they are increasingly squeezed by the flood of cheap, cloned products that often disregard regulations. The price advantage of these counterfeits makes it nearly impossible for ethical players to survive.

The Cartels and the Carnage
These suppliers — often accused of infringing on intellectual property, bypassing regulatory standards, and exploiting global trade loopholes — are not just competing; they are winning. Their products, branded under names like G&G, Lexmark, Pantum, and others, continue to flood markets at rock-bottom prices that OEMs simply cannot match.

For example, Ninestar, which accounts for the largest share of this loss with $812 million in sales, has faced widespread criticism over its ties to forced labor allegations and intellectual property violations. Despite this, its dominance in the aftermarket sector continues to grow, offering mostly clone toner cartridges that deliver significant cost savings to consumers — and a crippling blow to brands like HP and Canon that rely on their proprietary ink and toner technology for profit.

General Plastic Industrial (Katun) : A More Subtle Threat
While Ninestar and Hubei Dinglong dominate the headlines, General Plastic Industrial Co., Ltd. is a reminder that not all threats come from the flashiest sources. The Taiwanese company, which specializes in clone toner cartridges, reported $175 million (USD) in revenue for the full year 2024. Still, with earnings per share slipping General Plastic’s performance shows that despite challenges, the aftermarket sector is resilient and profitable — but increasingly competitive.

OEMs in Crisis: Losing Billions.
The combined total of $1.345 billion USD in lost revenue represents not just a decline in market share for the OEMs but also the slow erosion of their high-margin consumables business. Canon, HP, Epson, and Brother have all been forced to get creative in defending their turf, from increasing firmware updates to locking down cartridges and pushing subscription-based models like HP+.

Despite these efforts, the truth remains: the Chinese are winning. The massive shift to clone toners and in cartridges, often made in China and sold at a fraction of the cost, is eating away at OEM profits. And for many consumers and businesses, the decision is clear — why pay more for an OEM cartridge when the alternative is nearly identical and significantly cheaper?

A Wake-Up Call for OEMs?
With more than $1.345 billion USD now in the hands of Chinese suppliers just this past year alone, the urgency for OEMs to innovate, defend their intellectual property, and restore consumer trust has never been higher. However, these companies face a multifaceted challenge — a growing shadow economy of third-party suppliers, regulatory hurdles, and rising consumer demand for more affordable alternatives.

The reality is that OEMs are not just losing market share; they are losing to a system that many claim is built on the back of counterfeit products, undercutting prices, and sidestepping regulatory oversight. As the aftermarket sector pushes forward, the question remains: can Canon, HP, Epson, and Brother ever reclaim their dominance — or will they be forced to adapt to a future where counterfeit alternatives control the market?
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May 1, 2025 at 3:47 PM

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