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Article: IBM falls out of personal computer business

Article from:
University Wire
Article date:
December 7, 2004
Author:
Copyright

Andrew D. Mager
University Wire
12-07-2004
(The Collegiate Times) (U-WIRE) BLACKSBURG, Va. -- IBM said in a public announcement Friday, it would pull out of the personal computer business that it founded in 1911. The company is discussing a sale with Lenovo Group, China's No. 1 PC maker.

The possible sale of IBM is puzzling to some because the company just made a deal with Lloyds TSB Group plc, one of Britain's top financial services companies, worth nearly a billion dollars.

According to the New York Times, computer giant Dell accounted for 18 percent of PC sales worldwide, in the third quarter of 2004. Competitor Hewlett-Packard's captured 16.1 percent of the market-- former giant IBM ...

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