Microwave oven
In 1947, Raytheon built the "Radarange", the first commercially available microwave oven. It was almost tall, weighed and cost about US$5,000 ($ in dollars) each. It consumed 3 kilowatts, about three times as much as today's microwave ovens, and was water-cooled. The name was the winning entry in an employee contest. An early Radarange was installed (and remains) in the galley of the nuclear-powered passenger/cargo ship NS "Savannah". An early commercial model introduced in 1954 consumed 1.6 kilowatts and sold for US$2,000 to US$3,000 ($ to $ in dollars). Raytheon licensed its technology to the Tappan Stove company of Mansfield, Ohio in 1952. They tried to market a large 220 volt wall unit as a home microwave oven in 1955 for a price of US$1,295 ($ in dollars), but it did not sell well.
Microwave oven
By 1972, Litton (Litton Atherton Division, Minneapolis) introduced two new microwave ovens, priced at $349 and $399, to tap into the market estimated at $750 million by 1976, according to Robert I Bruder, president of the division.
From the late 1970s, Japanese companies such as Sharp Corporation manufactured low-cost microwave ovens that were affordable for residential use, leading to the rapid expansion of the microwave oven market in the 1980s. After Japanese dominance for much of the 1980s, with Sharp as market leader, South Korean manufacturers began entering the market in the late 1980s, with Samsung becoming a major microwave manufacturer.