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.
Electronics and computer chain the latest high street retailer to fall into difficulties
Incisive Media and Investec Asset Management supported fundraiser crosses Atlantic in 40 days
Alphabet's health sciences division Verily have been messing with AI algorithms
North Korea's cyber attack capabilities are expanding fast - and turning their fire on a wider range of targets