According to the CEO the declining revenues are not a bug, they are a feature. From <a href="http:&#x2F;&#x2F;www.cnbc.com&#x2F;2015&#x2F;11&#x2F;03&#x2F;ibm-ceo-said-sometimes-size-matters.html" rel="nofollow">http:&#x2F;&#x2F;www.cnbc.com&#x2F;2015&#x2F;11&#x2F;03&#x2F;ibm-ceo-said-sometimes-size-m...</a> :<p>&gt;&quot;In my tenure, I&#x27;ve divested $8 billion of businesses,&quot; Rometty said. &quot;The point was, they weren&#x27;t about the future of where we were going.&quot;<p>&gt;Rometty cited an example of a recent divestiture in hardware — making semiconductors. Now, only 10 percent of IBM is comprised of hardware.<p>see also their pdf on the same <a href="http:&#x2F;&#x2F;www.ibm.com&#x2F;annualreport&#x2F;2013&#x2F;bin&#x2F;assets&#x2F;ibm_ghv_march_2014.pdf" rel="nofollow">http:&#x2F;&#x2F;www.ibm.com&#x2F;annualreport&#x2F;2013&#x2F;bin&#x2F;assets&#x2F;ibm_ghv_marc...</a>