Sega Genesis
30.75 million first-party Genesis units were sold worldwide. In addition, Tec Toy sold an estimated three million licensed variants in Brazil, Majesco projected it would sell 1.5 million licensed variants of the system in the United States, and much smaller numbers were sold by Samsung in South Korea. By the mid-2010s, licensed third-party Genesis rereleases were still being sold by AtGames in North America and Europe. Many games have been rereleased in compilations or on online services such as the Nintendo Virtual Console, Xbox Live Arcade, PlayStation Network, and Steam. The Genesis was succeeded in 1994 by the Sega Saturn.
Sega Genesis
In the early 1980s, Sega Enterprises, Inc., then a subsidiary of Gulf & Western, was one of the top five arcade game manufacturers active in the United States, as company revenues surpassed $200 million between July 1981 and June 1982. A downturn in the arcade business starting in 1982 seriously hurt the company, leading Gulf & Western to sell its North American arcade manufacturing organization and the licensing rights for its arcade games to Bally Manufacturing. The company retained Sega's North American R&D operation, as well as its Japanese subsidiary, Sega Enterprises, Ltd. With its arcade business in decline, Gulf & Western executives turned to Sega Enterprises, Ltd.'s president, Hayao Nakayama, for advice on how to proceed. Nakayama advocated that the company leverage its hardware expertise gained through years working in the arcade industry to move into the home console market in Japan, which was in its infancy at the time.