From the IBM Archives:
The following is the text of an IBM Data Processing Division press fact sheet distributed on October 5, 1959.
The all-transistorized IBM 1401 Data Processing System places the features found in electronic data processing systems at the disposal of smaller businesses, previously limited to the use of conventional punched card equipment. These features include: high speed card punching and reading, magnetic tape input and output, high speed printing, stored program, and arithmetic and logical ability.
The 1401 may be operated as an independent system, in conjunction with IBM punched card equipment, or as auxiliary equipment to IBM 700 or 7000 series systems.
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