Panasonic: From a Manufacturer of Duplex Lamp Sockets to a Diversified Multinational Electronics Company

Panasonic Corporation is a multinational electronics company based in Kadoma, Osaka, Japan. When it was founded by Konosuke Matsushita in 1918, the company sold duplex lamp sockets but eventually grew to become one of Japan’s largest electronics manufacturers. Today, Panasonic is known as the fifth largest TV manufacturer in the world and is ranked among the top 20 sellers of semiconductors in the world.

When the company was incorporated in 1935, its corporate name was Matsushita Electric Industrial Co. Ltd. The company changed its name to Panasonic Corporation on October 1, 2008 to conform to its most popular brand, Panasonic.

From selling duplex lamp sockets in 1918, Panasonic sold bicycle lamps in 1927. These lamps carried the brand name “National”. Until the end of the World War II, factories in Japan and other Asian cities also produced appliances and electrical components aside from National bicycle lamps.

When the War was over, Panasonic regrouped to keep pace with the post-War economic boom in Japan. The demand for bicycles, radios and appliances was high. Toshio Iue, Matsushita’s brother-in-law, founded Sanyo to subcontract with Panasonic the production of components. However, when Sanyo grew, it became Panasonic’s competitor. The competition was settled when Sanyo became Panasonic’s subsidiary in December 2009.

Panasonic started producing TV sets in 1961 following Matsushita’s meeting with dealers in the US. Initially, Panasonic produced Panasonic TV sets for US markets but the trading eventually expanded to Europe in 1979. Panasonic ventured in other lines of home appliances like rice cookers. When the growth became inevitable, manufacturing facilities were opened in different parts of the world.

In 1965, Panasonic ventured into the production of high fidelity audio speakers, which carried the brand Technics. Through the decades that followed, Panasonic continued producing specialized electronic products in specific niches like shortwave radios, stereo receivers and CD players.

Through the 21^st century, Panasonic replaced its analog TVs with digital TVs. Panasonic merged with its competitor, Sanyo. Panasonic also ventured into other business ventures including production of high-density optic discs that replaced the DVD and SD memory cards.