NEW YORK, July 26 (Reuters) - International Business Machines Corp. (NYSE:IBM - news) on Monday is expected to
introduce a high-end data-storage system, re-entering a business it abandoned three years ago in the face of stiff competition from
EMC Corp (NYSE:EMC - news), the Wall Street Journal reported.
The new product, code-named Shark and developed at a cost believed to run in the hundreds of millions of dollars, will be IBM's
flagship entry in the high-end disk-storage market, according to the paper.
Ron Kilpatrick, general manager of IBM's storage-systems division, told the Journal the new system is IBM's most ''significant'' product announcement this year.
He said IBM's offering ''will be very competitive with EMC's product line across the board,'' and added, ''we intend to be the leader.''
Analysts said that if successful, the storage system could generate about $600 million to $700 million in revenue next year, estimates Laura Conigliaro, the Journal
reported.
IBM said it expects the system to hit the market in September. |
