Will IBM return to the PC business?

I find it very doubtful. IBM was a bit player in the PC market when the division was sold to Lenovo. Currently, IBM is doing quite well in the server market.

It would take a lot of money to re-enter the PC market. Production contracts would need to be made. Distribution channels would need to be opened. Advertising would have to be paid for. I just can't see an otherwise profitable, but smaller, IBM spending that kind of money on re-entering a market where it was formerly a very small player.

They aren't legally allowed to return.
They are Lenovo now