IBM's Rometty: We missed our targets

|By:, SA News Editor

IBM (IBM) CEO Ginni Rometty tells it like it is, acknowledging in a letter to investors that the company "did not meet our expectations."

IBM will continue to alter its focus to cloud services and data analytics while modifying its hardware products. "While we continue to remix to higher value, we must also address those parts of the business that are holding us back," said Rometty.

Declining demand for hardware and soft sales in growth markets have hit revenue for almost two years, prompting IBM to offload assets and reduce staff.