HUGE GAMBLE: IBM announced it will invest US$3bil (RM9.51bil) over the next five years in chip research and development in hopes of finding a game-changing breakthrough that can help revive its slumping hardware unit. — Reuters
WASHINGTON: IBM announced on Wednesday it will invest US$3bil (RM9.51bil) over the next five years in chip research and development in hopes of finding a game-changing breakthrough that can help revive its slumping hardware unit.
IBM announced the plan a week before its widely anticipated second quarter earnings. Last quarter, sales in its hardware sector plunged 23% from a year earlier and the company posted its lowest quarterly revenue in five years.
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