Portable radios were invented by John F. Mitchell in 1941 when  he 
created the first 2-way radio that was small enough for soldiers to
carry with them during World War II. These radios were called the
“Walkie-talkie.” 

Portable radios became available for home use in 1958 when
Raytheon produced a pocket transistorized radio that cost
$49.95.  

John Francis Mitchell
(January 1, 1928 – June 9, 2009)