IBM announces record-breaking losses
19th January 1993
IBM announces a loss of $4.97 billion for 1992, the largest single year loss in US history at that time.
For decades, IBM had been the predominant force in business computing. However the 1990s saw a dramatic collapse in IBM's fortunes. An influx of cheap PC clones and a lack of technological leadership are just some of the reasons commonly cited for IBM's problems.