Philips Consumer Lifestyle created for Laserdisc would later be used again for the Compact Disc. Although Philips' and MCA's Laserdisc project never reached the VHS mass market level, Philips still thought the format should be able to succeed, and, in collaboration with Sony, launched the smaller CD in 1982. The DVD (Digital Versatile Disc or Digital Video Disc), the eventual successor of the CD (Compact Disc), met a long road of setbacks. Philips wanted to continue with the CD in a new format called "MultiMedia Compact Disc" (MMCD), while another group (led by Toshiba) was developing a competing format, then named "Super Density"
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