Don't blame them. Nobody other than Apple has been successful with tablets thus far. I've heard analysts say there is no such thing as a tablet market. People confusing the iPad market for a tablet market.
PC margins have always been tiny as hell and it's a declining market on top of this so I can't blame them either.
I don't know if they will be able to match IBM though, since they have always been a services and software giant even when they were making PCs, getting rid of the PCs side of things didn't seem to raise as much eyebrows back then because of this. HP has a robust services and enterprise offerings but nothing like IBM, I think.