Prior to the introduction of the model 1403, IBM printers utilized technology originally developed for their line of
accounting machines. Models 402 and 405 use type bars. These are vertical bars, one for each print position. Each bar is one character wide with either the entire alphabet, including numerals and symbols, or just numerals and symbols only, molded into the front surface, in a single column. In printing, each bar is raised up until the correct character for that print position is opposite the paper, whereupon the bar is pushed toward the paper, so that the correct numeral or letter pressed against the ribbon, striking the paper much the way type slugs leave an impression on paper in a standard
typewriter. This action is relatively slow, as it took time for each bar to be brought up into the correct position and then drop back down in preparation to print the next line. In the
model 407, each type bar is replaced with a type wheel, with the characters along the outside edge. To print, each wheel is rotated to the correct character position, then the entire wheel is pushed forward to strike the paper. This action is somewhat faster because the wheels are less massive than the bars and can be positioned more rapidly, allowing printing at up to 150 lines per minute. Although this is slow by later printing standards, the speed at which electromechanical accounting machines can read
punched cards and perform their basic arithmetic functions means that no faster printing speeds are needed. The
IBM 1132 was the last printer manufactured by IBM to use this technology. When faster computers were developed, however, the speed of card reading, magnetic tape, and
early disk drives, along with newer high speed transistorized circuits, means that processing can be done at a much higher speed, and a faster print mechanism is needed to match the resulting productivity. IBM's early computers, such as the
IBM 701, were developed for higher speed calculation than was possible with earlier electromechanical calculating machines. They did not have a demand for high speed printing, as the results of massive calculations produced very little printed output. Around the time that the 1403 was introduced, IBM's line of computers had been largely divided into two lines, "scientific" and "business." However, as newer computers were being used for a greater variety of purposes, there was a need to print a greater variety of characters from a single device, including upper and lower case alphabets. With type bars and type wheels, changing character sets is impractical. The advent of the chain printer, as used in the 1403, allows the type chain assembly to be removed and replaced within a few minutes. With the cover open, the print unit is unlatched and swung open, the ribbon roll covering the front of the chain is removed, whereupon the print chain assembly can be unlatched and lifted out. When it was first introduced, the 1401 computer system, of which the printer was a part, leased for $6,500 per month (equivalent to $54,000 in 2017) and IBM received 3,000 orders in the first month. == Technology ==