this is correct and those of us over 20 know that this originated in the 70's/80's when sound systems began improving on the quality of the sound and recording in stereo/quad. The High-Fidelity (or Hi-Fi) sound system was born.
Hah! And those of us over the age of 40 know that use of the term Hi-Fi to describe high-fidelity sound systems actually began back in the 1950s, not the 1970s/1980s.
Young 'uns. They think they know everything.