An IBM executive said there never was a PC2.

A top company executive said the so-called PC2, the nickname applied to a personal computer that many IBM watchers expected the company to introduce this year, must have been a figment of analysts’ imaginations. William C. Lowe, head of IBM’s personal computer department, said he was taking the unusual step of disavowing a product because the “speculation is probably hurting competitors’ sales.” Lowe said IBM won’t introduce a new personal computer this year.