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AK-47 is the name of the original model. The -1 had a stamped receiver with QC issues, the -2 had a milled receiver which was much more reliable but weighed and cost a lot. The most common version with a stamped, riveted receiver (what most of us think of when we hear AK-47), was the AKM (Avtomat Kalashnikova Modernizirovanniy). It was much more efficient to produce and was officially approved in 1959:
EDIT: Got some of the history wrong.
What are the differences between AK-47, AKM, AK-56, AK-74 and AK-101?
The AK family of assault rifles are pretty widespread around the world, because of their lower cost of manufacturing, lower tooling costs, ...
firearmshistory.blogspot.com
EDIT: Got some of the history wrong.
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