Colour printer manufacturers are preparing for more movement in their market as Samsung yesterday announced its plans to take its share of an already busy industry sector.

The company launched its first colour laser printer at an event in London yesterday, the CLP-500. The unit – which offers duplex printing as standard – also offers print speeds of five pages per minute for colour and 20 per minute in monochrome. It carries a 350-sheet capacity as standard, and an optional 500-sheet add-on paper tray is available.

Samsung has aggressive plans to seize a slice of the market. The company said it "intends to repeat the substantial growth it has achieved in the mono laser market within the colour printer market and gain a 20 per cent market share within two years."

Samsung's colour printer product manager, Matthew Clark, stressed the company's aggressive plans: "We hope to replicate the success achieved in the mono laser printing market, where Samsung has become the number three printer brand within three years. The launch of the Samsung CLP-500 highlights the fact that Samsung is an increasing force in the printer market."

The market is currently dominated by HP. Figures released by Dataquest November 2002 showed that company with 52.6 per cent of the market in the category, followed by Lexmark (21.8 per cent), Epson (13.9 per cent) and Canon (7.7 per cent).

The new printer operates at low noise, implementing the company's NO-NOIS (Non Orbiting Noiseless Optic Imaging System) which means the device operates at 48dB, which Samsung claims is the lowest noise level in its class.

Additional features include a 166MHz processor and 64MB RAM as standard, 1,200dpi resolution. Two configurations are available: the £499 CLP-500 offers a USB 2.0 port, and the networkable CLP-500N (£599) has 10/100 Base TX Ethernet as standard. All prices include VAT. The products will be available from January 5.

The company plans to introduce additional colour printer products in 2004.