The International Business Machines Corporation (IBM) is a multi-national computer technology and IT consulting corporation with headquarters in Armonk, New York, United States. IBM emerged from a previous company the Computer Tabulating-Recording Company (C-T-R) created by Hermann Hollerith. From 1924, IBM expanded into the manufacture of electric typewriters and other office machines. IBM first experimented with computers in the 1940s and 1950s, with machines based on the card-based system of calculating. IBM produced its first mainframe computer, the model 360, in the 1960s. IBM built its reputation during the 1970s and 1980s with its range of hardware, software and service agreements, designed to encourage users to remain with IBM as their needs grew. During the late 1980 and early 1990s, IBM failed to adjust quickly enough to the growth in use of personal desktop computers (PCs). PCs combined the power of a mainframe with ease of use and a lower cost. IBM’s attempt to enter the PC market had limited success, with manufacturers of copy machines undercutting the price of an IBM machine and most of the profits going to other companies such as Intel and Microsoft. Following the appointment of a new CEO in 1993, the company moved towards the provision of tailored services as well as hardware. The company continues to employ scientists, engineers, consultants, and sales professionals across the world.