Stereobelt - Computer Definition
The first portable audio cassette player created by Andreas Pavel in Germany. Pavel demonstrated the Stereobelt in 1972 and applied for patents in the late 1970s in several countries. After Sony introduced the Walkman in 1979, it paid Pavel royalties for units sold in Germany. However, a royalty battle ensued for years that cost Pavel USD $3 million in legal fees. In 2003, the parties settled out of court, and Sony is reputed to have paid several million to end the dispute. See audio cassette.