In a filing with the Securities and Exchange Commission (SEC) last week, IBM reported that its Hard Disk Drive (HDD) business lost $92 million in first quarter 2002 and $423 million in fiscal year 2001. The $515 million loss disclosure comes after the company agreed to sell the unit to Hitachi for $2.05 billion. The unit has struggled with profitability for many years. Hitachi and IBM expect the sale of the business unit to close by end of the year. The company also launched a new entry-level Network Attached Storage (NAS) server last week. IBM is marketing its new TotalStorage Network Attached Storage 100 as storage in a "pizza box" because of its compact size. The server includes "smart" software technology IBM developed as part of its Project eLiza initiative to create intelligent IT systems capable of managing, protecting, and healing themselves automatically. The unit starts at $4420 and can be installed in less than 30 minutes. http://www.storage.ibm.com http://www.storageadmin.com/articles/index.cfm?articleid=25560
IBM Launches NAS and Confirms HDD Business Woes
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