At the June 1983 Consumer Electronics Show in Chicago, Mattel Electronics had the opportunity to show off all their new products. The response was underwhelming. Several people in top management positions were replaced due to massive losses. On July 12, 1983, Mattel Electronics President Josh Denham was replaced with outsider Mack Morris. Morris brought in former Mattel Electronics president and marketing director Jeff Rochlis as a consultant and all projects were under review. The Intellivision III was cancelled and then all new hardware development was stopped when 660 jobs were cut on August 4. The price of the Intellivision II (which launched at $150 earlier that year) was lowered to $69, and Mattel Electronics was to be a software company. However, by October 1983, Electronics' losses were over $280 million for the year and one third of the programming staff were laid off. Another third were gone by November, and on January 20, 1984 the remaining programming staff were laid-off. The Taiwan and French offices continued a little while longer due to contract and legal obligations. On February 4, 1984, Mattel sold the Intellivision business for $20 million. In 1983, 750,000 Intellivision Master Components were sold, more than three million units from 1980 to 1983.