By the late 1970s, American companies were producing simple home computer kits such as the MITS Altair and IMSAI 8080. This aroused interest among electronics hobbyists in the UK but relatively high prices and lower disposable income reduced the appeal of the American products. "New Scientist" stated in 1977 that "the price of an American kit in dollars rapidly translates into the same figure in pounds sterling by the time it has reached the shores of Britain". Off-the-shelf personal computers were also available for the high end of the market but were extremely expensive; Olivetti's offering cost £2,000, and the Commodore PET, launched in 1979, sold for £700. There was nothing for the hobbyist at the low end of the market. Sinclair realised that this provided a useful commercial opportunity.