From what I understand, IBM didn't want to make the leap to 32-bit earlier because they were still making a boatload of money selling 286-based computers (PS/2 50, 60)
They were indeed. At that time I was installing and setting the things up.
99% of them ran plain unaugmented PC DOS 3.3 and DOS apps, and the customers didn't give a fig about OS/2.
IBM lost a $multi-billion market through its short-sightedness, and if it had more vision, it could have couriered a 386 planar to every 286 PS/2 owner who wanted OS/2 and sent an engineer to install the board and then the OS... and still made more money overall.
