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This is an Aiwa CS-M1 Stereo Radio / Microcassette Mini "Boombox". This unit was built around a Stereo Microcassette recorder which technology was experimented with in the early 1980's by Aiwa / Sony and some other manufacturers and was believed to be an attempt to replace the Compact Cassette. These Stereo Microcassette recorders didn't gain International success and as such are a rare find today. They were only manufactured for about 2 years while finally being relegated as a Portable Voice recorder format. They had Metal Tape capabilities to try and improve the quality of the recordings but only a few went as far as to utilize Dolby Noise Reduction (not on this unit).
This particular machine had a problem with playing FM Stereo and the Battery LED also didn't work. After a bit of an excercise it is all functioning properly now. It is almost 30 years old and it's fun to see how it works. Have a look here for some pictures of the Internals http://www.flickr.com/photos/42434267@N02/sets/72157625497913413/.
YouTube has blocked the Audio on this Video but check out the same Video with Audio on my Flickr account here :- http://www.flickr.com/photos/42434267@N02/5480822369/in/set-72157625486038316. Their are some pictures there as well.