Complex sentence: The company was founded by Richard M. Schulze and Gary Smoliak in 1966 as an audio specialty store; in 1983, it was renamed and rebranded with more emphasis placed on consumer electronics.
Split into simpler sentences: The company was founded by Richard M. Schulze and Gary Smoliak in 1966 as an audio specialty store. In 1983, it was renamed and rebranded with more emphasis placed on consumer electronics.