The 1951 introduction of the large-scale UNIVAC computer from Remington Rand began a three-decade transition from over half a century of data processing on punched-card equipment to the widespread use of stored-program computers. While large firms profitably employed early large-scale computers, most businesses could not afford them. The transition to computers gained momentum in the mid-1950s with introduction of the magnetic- drum IBM 650 and the magnetic-disk IBM 305, and again in the 1960s with the magnetic-core and transistorized IBM 1401. With deliveries tripling every year, computer revenues exceeded those of punched-card equipment by 1962.
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