London: Two tech titans, IBM and Intel, have reported big drops in their net income.
The BBC reports that Intel earned a profit of 2 billion dollars in second-quarter, down 29 percent from a year ago.
IBM saw earnings for the same period fall by 17 percent to 3.23 billion dollars, the report added.
Revenue for both companies slipped as well, with IBM's falling by 3 percent and Intel's down by 5 percent.
Chipmaker Intel suffered as consumers and businesses switched away from traditional computers, while IBM made less on hardware and more on software.
First Published: Thursday, July 18, 2013, 18:12