Sega Genesis
The Sega Genesis, known as the in regions outside of North America, is a 16-bit home video game console developed and sold by Sega. The Genesis was Sega's third console and the successor to the Master System. Sega released the console as the Mega Drive in Japan in 1988, followed by North America as the Genesis in 1989. In 1990, the console was distributed as the Mega Drive by Virgin Mastertronic in Europe, Ozisoft in Australasia, and Tec Toy in Brazil. In South Korea, the systems were distributed by Samsung as the Super Gam*Boy and later the Super Aladdin Boy.
Sega
The Saturn failed to take the lead in the market as the Genesis had. After the launch of the Nintendo 64 in 1996, sales of the Saturn and its games fell sharply, while the PlayStation outsold the Saturn by three-to-one in the U.S. in 1997. Following five years of generally declining profits, in the fiscal year ending March 31, 1998, Sega suffered its first parent and consolidated financial losses since its 1988 listing on the Tokyo Stock Exchange. Shortly before announcing the losses, Sega announced that it was discontinuing the Saturn in North America to prepare for the launch of its successor. The Saturn lasted longer in Japan and Europe. The decision to abandon the Saturn effectively left the Western market without Sega games for over one year. Sega suffered an additional ¥42.881 billion consolidated net loss in the fiscal year ending March 1999, and announced plans to eliminate 1,000 jobs, nearly a quarter of its workforce. With lifetime sales of 9.26 million units, the Saturn is considered a commercial failure, although its install base in Japan surpassed the Nintendo 64's 5.54 million.