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IBM PC unit has lost money for past 3.5 years

/ Source: The Associated Press

IBM's personal computer business, which it is selling to Lenovo Group of China, has lost money for the past 3 1/2 years.

International Business Machines Corp. is selling the unit for $1.75 billion. In a quarterly filing with the Securities and Exchange Commission Thursday, the company said the unit had a loss of $258 million in 2003, $171 million in 2002 and $397 million in 2001.

It lost $139 million from the beginning of 2004 through the end of June.

IBM does not usually break out results from the PC division. It is part of the company's hardware group, which includes more profitable servers.