Japanese company, Nakamichi, started by Etsuro Nakamichi in 1948, is now owned by a conglomerate located in Singapore called the Grande Group. The company specialized in the manufacture of high-end audio entertainment equipment such as portable radios, tone arms, speakers, and communications equipment. In 1972, Nakamichi launched the world's first three-head cassette deck, a home audio device. The company initially manufactured common household electric products, later undertaking the development and production of high quality audio products. Cassette deck equipment manufactured by the company is still widely known and acclaimed for. The company was later led by the famous Nakamichi brothers, Ted and Niro, sons of Etsuro Nakamichi. The company has designed specialty products such as the innovative record players and DAT recorders, creating enormous brand loyalty. Nakamichi developed The Nakamichi 1000 and 700 stereo cassette decks in 1973 that were considered to be the finest cassette recorders of the 1970s, ultimately replacing the reel-to-reel tape recorders. These were the first to have three heads, a dual capstan drive for reduced wow and flutter levels and a Dolby-B noise reduction mechanism. Following the success of the models 1000 and 700, the company developed an economical version, the Nakamichi 500 and the silver wedge-shaped 600, catering to the huge demand by audiophiles. Another first was the portable cassette recorder, Nakamichi 550, featuring three microphone input sockets and driven by battery power. One socket for the Left channel, a second one for the Right channel and the third for the Center-blend channel, facilitated live recording of very high quality while on the field. Nakamichi SoundSpace audio and home theatre systems, launched in 1999, are fashion design-oriented products enabling installations to be hung on to walls. It also manufactures automotive stereo products and high-quality mini systems.