A minicomputer, or colloquially mini, is a class of smaller computers that was developed in the mid-1960s and sold for much less than mainframe and mid-size computers from IBM and its direct competitors. In a 1970 survey, "The New York Times" suggested a consensus definition of a minicomputer as a machine costing less than (), with an input-output device such as a teleprinter and at least four thousand words of memory, that is capable of running programs in a higher level language, such as Fortran or BASIC.