In the early 1980s, Commodore found itself engaged in a price war in the home computer market. Companies like Texas Instruments and Timex Corporation were releasing computers that undercut the price of Commodore's PET line. Commodore's MOS Technology division had designed a video chip but could not find any third-party buyers. The VIC-20 resulted from the confluence of these events and it was introduced in 1980 at a list price of $299.95. Later, spurred by the competition, Commodore was able to reduce the VIC's street price to $99, and it became the first computer (of any kind) to sell over 1 million units. The Commodore 64, the first 64 KB computer to sell for under in the USA, was another salvo in the price war but it was far more expensive to make than the VIC-20 because it used discrete chips for video, sound, and I/O. Still, the C64 went on to become a best-seller and was selling for $199 at the time of the Plus/4's introduction. Even while C64 sales were rising, Commodore president Jack Tramiel wanted a new computer line that would use fewer chips and at the same time address some of the user complaints about the VIC and C64.