<p>IBM CEO Ginni Rometty, in her annual letter to shareholders, set out IBM's bold vision to be a modern company that can meet the challenges of big data, analytics and cloud computing. But she also acknowledged what we already knew: Big Blue missed the mark in 2013.</p><p>Rometty wrote:</p><p>"We must acknowledge that while 2013 was an important year of transformation, our performance did not meet our expectations. Our operating pre-tax income was down 8 percent. Our revenue in 2013, at $99.8 billion, was down 5 percent as reported and 2 percent at constant currency."</p><p>On the little matter of hardware, she reiterated that the company will focus more on its Power servers and storage IBM is selling its x86 server business to Lenovo.Top billing for Watson and SoftLayer</p><p><a href="http://gigaom.com/2014/03/10/ibm-ceo-we-messed-up-last-year-but-will-do-better/">Keep reading...</a></p>