The paper describes briefly the historical development and presents in more detail solid-state properties such as hardness, heat conductivity, thermal expansion and mechanical properties of titanium carbonitride Ti (C,N), the basis of the hard phase of cermets. The metallurgy of Ti (C,N)-based cermets with respect to microstructure formation during sintering and the impact on properties are presented in more detail. The various influences such as W and/or Mo content, Mo/W ratio, C content and C/N ratio, binder phase content and binder phase composition (Co/Ni), sintering time, dwell time, alloy state of powders and grain size were critically evaluated and are presented in form of fracture toughness vs. hardness graphs. A table gives a reference list on the study of these influences. TRS data on cermets were collected and summarised in a separate table, too. The focus is put on grades which have the potential of being fabricated soon in industrial processes for production of cermet tools. Application examples for metal cutting, sawing and chip bonding are presented. In two final sections recent modifications and achievements such as graded microstructures, multicomponent binder, and hybrid microstructures are also briefly presented together with an outlook on the future potential of cermet applications.