1. A method of multi-channel color image compression comprising: analyzing a color image to determine foreground colors, background colors and edge information; selectively and independently reducing resolutions of said foreground colors and said background colors to obtain reduced resolution foreground colors and background colors; selectively reducing resolution of said edge information to a higher resolution than that of said reduced resolution foreground colors and background colors to obtain reduced resolution edge information; and selectively and independently compressing said reduced resolution foreground colors, background colors and edge information.