But no, they are still important, just not to the average consumer. Not obsolete, they're still made and sold, but sales have been dropping and they're less popular among young people. Portable audio has a lot to do with this — people are apt to listen with earbuds and their phones so they can carry music with them.
Sony Micro Hi-Fi Stereo Sound System with Bluetooth Wireless Streaming NFC, CD Player, FM Radio, Mega Boost, USB Playback & Charge, AUX Input, Remote Control. Visit the Sony Store.