The latest entrant in the IBM(s ibm) server sweepstakes is apparently Fujitsu. The Wall Street Journal reported Wednesday that the Japanese IT giant is eyeing IBM’s underperforming X86 business (registration required). This comes days after reports positing that IBM is pitching that business to Dell and/or Lenovo.

All of this was an unspoken subtext of IBM’s fourth-quarter earnings call Tuesday when CFO Martin Schroeter acknowledged that hardware remains a problem for IBM, which sold off its PC-and-laptop business to Lenovo a decade ago.

“Hardware continued to impact our overall performance. We are dealing with some challenges in our hardware business model specific to power, storage and X86. As expected, in System z, we are impacted by the product cycle as we wrap on very strong performance a year ago. Together, these dynamics significantly impacted our revenue growth and profit. In fact, our hardware segment profit was down over $750…