Sega Genesis
Sega sold 30.75 million Genesis units worldwide. Of these, 3.58 million were sold in Japan, and sales in Europe and the U.S. are roughly estimated at 8 million and 18–18.5 million as of June 1997 (at which time Sega was no longer manufacturing the system) respectively. In 1998, Sega licensed the Genesis to Majesco Entertainment in North America so it could re-release the console. Majesco began reselling millions of formerly unsold cartridges at a budget price, together with 150,000 units of the second model of the Genesis. It released the Sega Genesis 3, projecting to sell 1.5 million units of the console by the end of 1998. An estimated 3 million Genesis units were sold by Tec Toy in Brazil.
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.