With the release of its annual financial figures for 2013, IBM itself admits that the news is not all that they had wished. Yet, the company stuck to its message of technological transformation.
"We must acknowledge that while 2013 was an important year of transformation, our performance did not meet our expectations," said Ginni Rometty, CEO and chairman of IBM, in her letter in the company's annual report pointing to pre-tax income that slipped 8% and revenues that were down 5%.
Also sobering is the reality that the company is cutting jobs. IBM started the year with a significant round of layoffs that, all told, will result in 15,000 workers being on the street in India, Brazil, and Europe.
At the same time, IBM is a company that has transformed itself numerous times throughout more than a century of being in business. Printer-maker Lexmark, for example, came into being in 1991, when IBM divested itself of its printer and printer-supply operations. Now, on the heels of IBM sellng its low-end server business to Lenovo, rumors are swirling about IBM selling its chip business. It has built businesses and sold them.
Click on the slideshow below to see some highlights of major shifts IBM has made in its illustrious history:
A Century of Building, Buying & Selling
In business for more than a century, IBM has transformed itself again and again. Here are some highlights about a company that has grown from a newly hatched company selling equipment that ranged from cheese slicers to adding machines to an empire built on computing hardware, software, and services.