IBM is cleaning up by focusing on business and of course computer research.
The consumer end is either really gadget or games. Throw in a little search and help and you are there. Samsung came from no where, just like Apple did, just like Sony did, just like the next fad manufacturer will. That's the problem with the consumer market, your time in the sun always comes to an end. So target IBM business and research, not so much the competitor to beat, the whole of that market is that but the competitor to align with. Security is also floating around but thanks to the NSA that is going to end up a one country at a time market, nobody will trust anyone going forward (the fiscal harm the NSA has done to US business is staggering, trillions of dollars will go begging).
So MSN, XBox(gaming division), Bing(back to MSN Search),whole bunch of cash for restructuring and to keep share value up, basically creating MSN consumer products.
Everything else stays with M$. Add in clearing out deadwood, for both divisions and M$ will be able to trim right down and clean up.
While MSN will charge right at Apple and Google, two targets with big revenue to sink their teeth into (Focus is all MSN needs).