The Nintendo Entertainment System (commonly abbreviated as NES) is an 8-bit home video game console that was developed and manufactured by Nintendo. It was initially released in Japan as the Family Computer (Japanese: ファミリーコンピュータ, Hepburn: Famirī Konpyūta), commonly known by the portmanteau abbreviation Famicom (ファミコン, Famikon) and abbreviated as FC, on July 15, 1983, and was later released in New York City in 1985, and throughout the U. S as well as in Europe during 1986 and 1987, and Australia in 1987. In Brazil, it wasn't officially released until 1993. In South Korea, it was known as the Hyundai Comboy (현대 컴보이 Hyeondae Keomboi) and was distributed by SK Hynix which then was known as Hyundai Electronics. The best-selling gaming console of its time, e[›] the NES helped revitalize the US video game industry following the North American video game crash of 1983. With the NES, Nintendo introduced a now-standard business model of licensing third-party developers, authorizing them to produce and distribute titles for Nintendo's platform. It was succeeded by the Super Nintendo Entertainment System.