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In response to high-quality, low-priced import guitars, Fender created the Lead Series in 1979, featuring a new solid-body design, hard-tail bridges and cool new wiring options. Appealing to a wide variety of players, the sleek new Lead models kicked off a fresh creative era in Fender’s history.

The Player Lead III, a tribute to the original 1982-only model, features a set of hot alnico Player humbucking pickups, dual-toggle switches for pickup selection and coil-splits, and a modern "C" neck shape with medium jumbo frets. Available in Purple Metallic, as well as classic Olympic white and Sienna Sunburst versions.

At the dawn of the seventies, as popular music trended towards the fatter tones of humbucking pickups into overdriven amps, Fender hired legendary humbucking pickup designer Seth Lover to create a distinctly Fender-flavored take on a higher output dual-coil pickup. The resulting Wide Range pickup used large bobbins and threaded CuNiFe rod magnets to achieve its unique and brilliant sound. The Telecaster® Custom was discontinued in 1979 and real CuNiFe-magnet pickups disappeared with them.