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IBM is Latest US Tech Giant To Pull Back From China
Monday August 26, 2024. 04:41 PM , from Slashdot
The Chinese government has encouraged domestic companies to overtake and push out U.S. tech dominance out of the country in a bid for self-sufficiency in the sector, the Wall Street Journal reported earlier this year. IBM has faced mounting competition in China in recent years, IBM executive Jack Hergenrother told employees virtually Monday, per the Journal. IBM reportedly plans to move its R&D operations to other overseas facilities. According to the company's 2023 annual report released earlier this year, the company saw its revenue in China drop 19.6% last year. Read more of this story at Slashdot.
https://slashdot.org/story/24/08/26/1441200/ibm-is-latest-us-tech-giant-to-pull-back-from-china?utm_...
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