A more detail description, from the one and only wiki,
Universal Serial Bus - Wikipedia, the free encyclopedia
"USB (Universal Serial Bus) is a specification[1] to establish communication between devices and a host controller (usually personal computers).[2] USB is intended to replace many varieties of serial and parallel ports. USB can connect computer peripherals such as mice, keyboards, digital cameras, printers, personal media players, flash drives, and external hard drives. For many of those devices, USB has become the standard connection method. USB was designed for personal computers[citation needed], but it has become commonplace on other devices such as smartphones, PDAs and video game consoles, and as a power cord between a device and an AC adapter plugged into a wall plug for charging. As of 2008[update], there are about 2 billion USB devices sold per year, and approximately 6 billion total sold to date.[3]
The design of USB is standardized by the USB Implementers Forum (USB-IF), an industry standards body incorporating leading companies from the computer and electronics industries. Notable members have included Agere (now merged with LSI Corporation), Apple Inc., Hewlett-Packard, Intel, Microsoft and NEC."
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