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IBM’S SEMEA 1996 REVENUES DOWN 8.8%

IBM Southern Europe, Middle East & Africa division or Semea should see 1996 net profit of several million dollars but slightly down on 1995 with revenue down 8.8% at $6.2bn, managing director Tomaso Quattrin said. Revenue was down in all the component sectors and exports were hit by a world fall in memory chip prices. Personal computer sales totaled 140,000 but revenue fell because we decided not to participate in a price war, he said.

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