Under CEO Arnold Greenberg, the company entered the video game console business with the Telstar in 1976. Dozens of companies were introducing game systems that year after Atari's successful Pong console. Nearly all of these new games were based on General Instrument's "Pong-on-a-chip". However, General Instrument had underestimated demand, and there were severe shortages. Coleco had been one of the first to place an order, and was one of the few companies to receive an order in full. Though dedicated game consoles did not last long on the market, their early order enabled Coleco to break even. Coleco continued to do well in electronics. They transitioned next into handheld electronic games, a market popularized by Mattel (Intellivision).