IBM's new chief executive says the firm is ready to reap the benefits of a coming boom in internet spending.
Mr Samuel J Palmisano told a shareholders' meeting that IBM has the right tools for the new wave of emerging internet devices.
He highlighted the firm's security technology, networking and its giant services arm. The meeting signaled a leadership transition at the company.
Mr Palmisano has succeeded Mr Louis Gerstner as chief executive.
Mr Gerstner, who will continue as IBM chairman until the end of this year, said he did not intend to remain on the company's board after his retirement.
Mr Palmisano described the next era for the internet as "IBM's franchise". He added: "The opportunity that results from this industry shift is ours to lose."
IBM was widely accused of having missed the internet boom in the late 1990s.
PA
