The cassette tape was introduced by the Philips Company in 1963. By 1968, cassette tapes had turned into a $150 million industry. The popularity of cassette tapes only increased with the introduction of portable cassette players, such as the Sony Walkman in 1979. However, cassette tape popularity declined rapidly with the introduction of compact discs in the 1980s and today cassette tapes are considered obsolete. Writer Bio
