CES (formerly an acronym for Consumer Electronics Show but now the official name) is an annual trade show organized by the Consumer Technology Association. Held in January at the Las Vegas Convention Center in Las Vegas, Nevada, United States, the event typically hosts presentations of new products and technologies in the consumer electronics industry.

CES started in 1967, but it was a sleepy affair until 1970, when Philips unveiled its N1500 videocassette recorder. Until that point, VCRs cost upward of $50,000 and were used mainly by TV stations, but the Philips model with a built-in tuner was just $900 (around $5,000 today). It became the first-ever home VCR, letting folks who could afford it record TV shows for future viewing.

Source: Revisiting the defining moments of CES history