(NBC News) - Sony will stop producing Betamax video cassette tapes in March 2016, the conglomerate said in a statement on its website Tuesday.

The company introduced the Betamax format in 1975, a year before rival Japanese firm JVC debuted the VHS tape. The two formats battled for market dominance. VHS ultimately came out on top — and Betamax fell to the wayside.

Sony has not produced a Betamax recorder since 2002.

The company said it is also taking the Micro MV cassette off the market, adding that it has not produced a compatible digital video camera in a decade.