IBM selling its hard drive business

The Inquirer reports that IBM will sell its hard drive division to Hitachi. I'm sure the recent press about the failure rate of the drives caused a bigger push to get out of the component sector than was originally planned.

The move is another element in IBM's apparent determination to get out of the PC and component business altogether, and comes after it issued a profits warning last week, partly blamed on a downturn in both the semiconductor and disk drive business.