Game consoles have been around since the 1970s and there are currently three major competitors: Nintendo, Sony, and Microsoft. In the 1970s, early consoles like the Magnavox Odyssey and Atari Pong were released. Nintendo launched the successful Nintendo Entertainment System in 1985, becoming the dominant player, while Sega competed with systems like the Master System and Genesis. Sony entered the market in 1995 with the PlayStation. Microsoft later joined in 2001 with the original Xbox. Today's major consoles are the Nintendo Wii, Sony PlayStation 3, and Microsoft Xbox 360, with the industry generating over $44 billion in annual sales worldwide.