Sony was founded in 1946 in Tokyo, Japan by Masaru Ibuka and Akio Morita as Tokyo Telecommunications Engineering Corporation and produced Japan's first tape recorder in 1950. It introduced the transistor radio in 1955 and the iconic Walkman portable music player in 1979. Sony has been a leader in consumer electronics and entertainment, launching the successful PlayStation video game console in 1994 and developing the first commercial CD player in 1982.