Complex sentence: The first model of VCR for the format was the Model 212, introduced in 1980 by both Funai and Technicolor as they had created a joint venture to manufacture and introduce the format to the home movie market.
Split into simpler sentences: The first model of VCR for the format was the Model 212, introduced in 1980 by both Funai and Technicolor. The two companies had created a joint venture to manufacture and introduce the format to the home movie market.