IBM facing "rocky time", but poised for change, CEO says - NYT

Mon May 12, 2014 10:40am IST

IBM Chairwoman and CEO Virginia ''Ginni'' Rometty speaks at an IBM Watson event in lower Manhattan, New York January 9, 2014. REUTERS/Brendan McDermid/Files

IBM Chairwoman and CEO Virginia ''Ginni'' Rometty speaks at an IBM Watson event in lower Manhattan, New York January 9, 2014.

Credit: Reuters/Brendan McDermid/Files

Related Topics

Stocks

   

(Reuters) - IBM Corp is facing a "rocky time," Chief Executive Virginia Rometty told the New York Times, but said she and the company now have a clear vision on how to pursue another generation of growth.

"We are transforming this company for the next decade," she said, sounding a theme she plans to use on Wednesday at the company's yearly meeting with investment analysts, the New York Times reported. (r.reuters.com/vuz29v)

IBM, the world's biggest technology services company, last month reported its lowest quarterly revenue in five years, as Big Blue struggles with falling demand for its hardware and faces challenges in growth markets like China.

The company has jettisoned less profitable business and made major commitments in new fields — like technology to help customers find insights in today's flood of digital data, and cloud-style computing in which processing and software is delivered remotely over the Internet, the NYT reported Rometty as saying.

(Reporting by Supriya Kurane in Bangalore; Editing by Sunil Nair)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

SMARTPHONES

Reuters Showcase

Sapphire Screen

Sapphire Screen

Xiaomi ordered sapphire glass for limited edition phone - S.Korea newspaper.  Full Article 

Anti-Trust Probe

Anti-Trust Probe

Qualcomm will strive for resolution to China anti-trust probe-regulator.  Full Article 

Photo

Privacy Violation

Class action against Facebook attracts 60,000 users.  Full Article 

Taxi to Space

Taxi to Space

Boeing says completed key design review for space taxi.  Full Article 

PayPal Unit

PayPal Unit

EBay considering PayPal spinoff - report.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage