Philips globally, the scale advantages of the Japanese proved insurmountable and Philips withdrew the V2000 system and joined the VHS Coalition. Philips had developed a LaserDisc early on for selling movies, but delayed its commercial launch for fear of cannibalizing its video recorder sales. Later Philips joined with MCA to launch the first commercial LaserDisc standard and players. In 1982, Philips teamed with Sony to launch the Compact Disc; this format evolved into the CD-R, CD-RW, DVD and later Blu-ray, which Philips launched with Sony in 1997 and 2006 respectively. In 1984, the Dutch Philips Group bought out nearly a one-third
Philips Consumer Lifestyle experimentally manufactured in 1925. In 1927, Philips began producing radios. Only five years later, Philips had sold one million of them. One other major product release came in 1963, when the Compact Cassette was introduced. After Philips Consumer Electronics acquired companies as Magnavox and Sylvania in the late 1970s, Philips managed to sell their 100-millionth TV-set in 1984. Philips still is the European television market leader, as well as the third in the world. Because of the enormous growth, Philips decided to split up their company divisions during the 1990s. While Philips CE contains most of the Consumer Electronics, other