IBM's Hardware Woes Accelerate in Fourth Quarter - WSJ.com

Probably not helping in rumored x86 server business price negotiations with Lenovo and others; on a brighter note, from later in the article: "IBM did beat quarterly expectations for profit—$6.19 billion, up 6%—but the results were aided by gains from tax-audit settlements."

"The trend has forced Ms. Rometty to find new profitable businesses, such as cloud computing and data analytics, though growth in those businesses have yet to offset the issues in hardware.

IBM's fourth-quarter revenue fell 5.5%, below expectations and the seventh consecutive quarterly drop. Hardware-group revenue plunged 27% in the quarter."

IBM's Hardware Woes Accelerate in Fourth Quarter - WSJ.com