Scientists and engineers have been searching for years for a material that can be magnetized easily and yet be capable of low magnetic losses. For two decades their research has focused on metallic glasses. Their dreams are now beginning to commercially materialize. The metallic glasses, or amorphous metals as they are also known, are beginning to compete with metallic strip and large ferrite cores in magnetic devices operating in the range of 1 to 200 kilohertz, and are also starting to compete with conventional metals used in magnetic devices. Presently, they are being used in magnetic components for switched-mode power supplies, in transducers for phonograph cartridges - also in magnetic shields for blocking electromagnetic interference.