Sony Corporation was founded in 1946 as Tokyo Tsushin Kogyo with 190,000 yen (around $530). In 1950, the company released its first product, the G-Type, which was Japan's first magnetic tape recorder. In 1955 the company began using the SONY logo, and in 1958 it officially changed its name to Sony Corporation. In 1982, the firm released the CDP-101, the world's first CD player and in 1994 the company released the first PlayStation game console.
The company's name is derived from "sonus," the original Latin for "sonic," and "sonny," a colloquial term for a young boy. It was chosen because it could be pronounced easily and consistently in many languages.
Since its inception, Sony has repeatedly launched Japan- and world-first products. For example, it launched the world's first direct-view portable transistor television and the first compact computers that allowed handwritten input. In 1995 Sony introduced the Digital Handycam, the first consumer-use digital video camcorder.
Additionally, Sony has been at the forefront of many emerging technologies with products such as the Sony Walkman, a portable music player. Sony's development of the compact disk in particular had a major effect on the technology industry as a whole. Similarly, the release of the Playstation 3 in 2006 played a significant role in Blu-ray becoming the dominant high-definition video media.