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IBM 'major announcement' points to deal on chip manufacturing

Marc Ferranti and Agam Shah | Oct. 20, 2014
Under pressure to boost margins, IBM is set to make what it calls a "major business announcement" Monday morning, raising the possibility that it has finalized a deal to transfer chip-making operations to GlobalFoundries.

During the conference call for its second quarter earnings, IBM executives described the company as being in transition, and cautioned that its revenue growth might flatten as it moves to new technologies and services.

Rometty highlighted cloud, big data and analytics, security and mobile technology as key to the company's growth.

Revenue from IBM's Systems and Technology hardware segment for the second quarter, meanwhile, was $3.3 billion, down 11 percent from the second quarter in 2013. The East Fishkill plant operates under the Systems and Technology Group.

IBM said it would release its earnings press release at 7 a.m. ET Monday, and issue details about the business announcement separately. An earnings conference call is scheduled for 8 am ET

 

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