IBM's PC Business Has Been Losing Money


IBM's personal computer business, which it is selling to Lenovo Group of China, has lost money for the past 3 1/2 years.

IBM is selling the unit for $1.75 billion. In a quarterly filing with the Securities and Exchange Commission Thursday, the company said the unit had a loss of $258 million in 2003, $171 million in 2002 and $397 million in 2001.

It lost $139 million from the beginning of 2004 through the end of June.

IBM does not usually break out results from the PC division. It is part of the company's hardware group, which includes more profitable servers.

Copyright © 2004 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten or redistributed without the prior written authority of The Associated Press.