Updated from 4:30 p.m. to include additional comments from Bank of America regarding earnings estimates in the fifth paragraph.
NEW YORK (TheStreet) –– Though IBM (IBM) has largely gotten out of the hardware business in recent years, the company is still innovating on that front, as the mobile economy pushes more data to retailers and consumers. To that end, IBM has announced the z13 Mainframe, the first computer system built for today's mobile economy.
After spending five years in development and working with more than 60 customers, IBM has unveiled the z13, which can handle more than 2.5 billion transactions a day and which allows real-time encryption of mobile transactions to provide safety to consumers and sellers. The product includes 500 new patented technologies to make sure the data are safer than they were before.
With the widespread use of smartphones and other mobile devices, the concern is that there are simply too much data to properly analyze, an issue IBM expects to help solve with the z13. The "z13 is the first system capable of real-time analytics on mobile transactions 17X faster than any other method at a fraction of the cost," IBM said in a release, announcing the product.
It's a curious move for IBM to continue innovating in hardware, especially as the company sold its PC business to Lenovo nearly a decade ago. In late 2014, the company bought its server unit, as well, as IBM continues to move away from hardware.