IBM started off as one of the most successful companies. The initial growth was buoyed by the growth of the ICT industry as the demand for desktops soar. However, the good performance took a dip when new entrants brought competition to the door. The company faced competition from new players like Microsoft both in hardware and software, which led to the loss of substantial market share. In 1991, the company lost more than $16 billion, which was attributed to structural problems.