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IBM introduces the IBM 1401 data processing system, the first computer system to reach 10,000 units in sales. The system included the IBM 1403 printer, the industry's first commercial "chain" printer. The 1403 printer -- four times faster than any competitor -- launched the era of high-speed and high volume printing, and was not surpassed for print quality until the advent of laser printing technology in the 1970s. Even today, it remains the standard of quality for high-speed impact printing.
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The first fully automatic production line for transistors is designed by IBM engineers in Poughkeepsie, New York. When placed in operation in 1960, the line produced and tested 1800 individual transistors an hour.
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IBM reorganizes the Data Processing Division into the Data Systems and General Products Divisions to handle development and manufacturing, and the Data Processing Division to handle marketing and service. The Military Products Division is renamed Federal Systems Division, and an Advanced Systems Development Division is organized to explore new markets.
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IBM introduces the 1620 scientific computer; the 357 data collection system; the 1210 magnetic character-reader/sorter; the 9090 to automate airline reservation systems; and the Model C Standard and "Executive" typewriters.
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A new card plant opens in Concord, Massachusetts. The World Trade Corporation opens a new Belgium headquarters and dedicates a European Education center at Blaricum, Holland.
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IBM introduces SPEAK UP!, a program to encourage communications between employees and management.
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Employees |
94,912
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Stockholders |
108,883 |
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Revenue |
$1.61 B
+ 14 % |
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Net earnings |
$176 M
+ 16 % |
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Dividend |
2.5 % |
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