IBM bought Electromatic Typewriters in 1933, and Big Blue sold the first commercially successful electric typewriter two years later.
By 1958, IBM had sold 1 million electric typewriters. It introduced the first Selectric typewriter in 1961, which had a ball-shaped element inside that replaced the moving carriage and type bars.
But by 1991, IBM realized the personal computer would soon eliminate the need for typewriters. It sold the business that year to Clayton & Dubilier, which formed a new typewriter and printing company called Lexmark.
How IBM grew from annual sales of $950,920 into a global Goliath. More
|Runway Injustice: How the modeling industry exploits young workers|
|Chris Matthews' Melania Trump remarks caught on hot mic|
|Apple has killed one of Steve Jobs' favorite projects from 1996|
|Donald Trump: 'I'm the king of debt'|
|Wheels up! Amazon is investing in airplanes|