Financial reports released in connection with the sale of IBM’s personal computer division to China-based Lenovo Group Ltd. reveal that the company has been unprofitable since at least 2001, with total losses of $965 million, even though revenues were $34.1 billion. It’s a startling figure for the company that took Apple’s personal computer concept and turned it into an industry. It also should silence critics who complain about Apple’s small market share: Hey, Apple is selling products and making a profit–how much more do you want?

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