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 Genesis
Nakayama received permission to proceed with this project, leading to the release of Sega's first home video game system, the SG-1000, in July 1983. The SG-1000 was not successful; while it had sold 160,000 units in Japan, far greater than any of Sega's arcade platforms, sales at stores were dominated by Nintendo's Famicom which had been released the same day. Sega estimated that the Family Computer outsold the SG-1000 by a 10-to-1 margin. The SG-1000 was replaced by the Sega Mark III within two years. In the meantime, Gulf & Western began to divest itself of its non-core businesses after the death of company founder Charles Bluhdorn, so Nakayama and former Sega CEO David Rosen arranged a management buyout of the Japanese subsidiary in 1984 with financial backing from CSK Corporation, a prominent Japanese software company. Nakayama was then installed as CEO of the new Sega Enterprises, Ltd.