Wanna buy some losses?

by Tom Sanders

01 Jan 2005

It turns out that IBM's decision to sell its PC and laptop division to Lenovo of China was even more of a genius move than we already thought. Prior to the sale, IBM's computer making business has been bleeding red ink for years, the company disclosed in a filing to the SEC.

The first six months of 2004 the unit lost $139m. Losses in the three years prior to that amounted to $285 m in 2003, $171 m in 2002 and $397 m in 2001.

Despite the embarrassing track record, Lenovo thought the IBM computer business was worth enough to spend $1.25 bn on it.

Do you agree?

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