Sony, as the brand is commonly referred to - is called Sony Corporation in Tokyo, Japan is one of the world's largest media conglomerate with revenue exceeding US$78.88 billion. Sony's name is derived from the term sonus, a Latin word for sound or sonic. Sony is currently one of the world's leading manufacturer of consumer electronics, video games & consoles, business equipment, communications, video and IT products. Sony's journey began in 1945 after Masaru Ibuka started  a company called Tokyo Tsushin Kogyo K.K. (Tokyo Telecommunications Engineering Corporation) with his collegue Akio Morita, in August 1955 Tokyo Telecommunications Engineering Corporation produced the Sony TR-55, Japan's first commercial transistor radio. Sony created the world's first portable music player under the Walkman brand in 1979 and in 1982 collaborated with Philips on the Compact Disc (CD), Sony later collaborated with Philips and Toshiba in 1997 to create and market the DVD. Sony went on to launch PlayStation in 1994, PlayStation 2 in 2000 and PlayStation 3 in 2006. Sony is one of the leading developers of the Blu-Ray disc format which became commercially popular, forcing Toshiba to withdraw and stop supporting HD DVD on February 19, 2008.