Panasonic
Panasonic Corporation, formerly known as Matsushita Electric Industrial Co., Ltd., is a multinational corporation based in Kadoma, Japan. Its main business is in electronics manufacturing and produces products under a variety of names including Panasonic and Technics.
Since its founding in 1918, it grew to become the largest Japanese electronics producer. Panasonic was ranked the 59th largest company in the world in 2007 by the Forbes Global 500.
In 1955, the company labeled its export audio speakers and lamps "PanaSonic", which was the first time it used its "Panasonic" brand name. In May 2003, the company put "Panasonic" as its global brand, and set its global brand slogan, "Panasonic ideas for life." On January 10, 2008, the company announced that it would change its name to "Panasonic Corporation" (effective on October 1, 2008) and unify "National" in Japan to its global brand "Panasonic" (by March 2010).
Panasonic was founded in 1918 by Konosuke Matsushita first selling duplex lamp sockets. In 1927, it produced a bicycle lamp, the first product it marketed under the brand name National. It operated factories in Japan and other parts of Asia through the end of World War II, producing electrical components and appliances such as light fixtures, motors, and electric irons.
After World War II, Panasonic regrouped and began to supply the post war boom in Japan with radios and appliances, as well as bicycles. Matsushita's brother-in-law, Toshio Iue founded Sanyo as a subcontractor for components after WWII. Sanyo grew to become a competitor to Panasonic.
In 1961, Konosuke Matsushita traveled to the United States and met with American dealers. Panasonic began producing television sets for the U.S. market under the Panasonic brand name, and expanded the use of the brand to Europe in 1979.
The company used the National trademark outside of North America during the 1950s through the 1970s. It sold televisions, radios, and home appliances in some markets. The company began opening manufacturing plants around the world. It quickly developed a reputation for well-made reliable products.
The company debuted a hi-fidelity audio speaker in Japan in 1965 with the brand Technics. This line of high quality stereo components became worldwide favorites. The most famous product still made today is the SL-1200 record player, acknowledged for its high performance, precision, and durability. Throughout the 1970s and early 1980s, Panasonic continued to produce high-quality specialized electronics for niche markets, such as short-wave radios, and developed a successful line of stereo receivers, CD players, and other components.
In recent years the company has been involved with the development of high-density optical disc standards intended to eventually replace the DVD and the SD memory card.
On January 19, 2006 Panasonic announced that, starting in February, it will stop producing analog televisions (then 30% of its total TV business) to concentrate on digital TVs.
On November 3, 2008 Panasonic and Sanyo were in talks, resulting in the eventual acquisition of Sanyo.
