PANASONIC

History of Panasonic

Panasonic has been a reliable name in electronic product manufacturer in the world since 1918. It has gained a repute of being a world leader in the industry of electronic goods and it is creating new ideas to enrich the life of millions of people worldwide.

With products ranging from audiovisual and information/communication equipment to home appliances, Panasonic has been a trusted brand and a leader in the said industry. It was in 1918 when the founder Konosuke Matsushita founded the Matsushita Electric House wares Manufacturing Works which later consolidated into Panasonic, ensuring improved quality and durability.

The staff of Matsushita Electric Housewares had just three people on board including Matsushita himself, his wife and his brother-in-law. All three of them were inexperience yet committed towards progress. They converted their two-story house into a small office that initially produced just the fan insulator plates. Matsushita was convinced that there is a huge market that is untapped and unexplored for household fixtures. He determined to take his business to newer heights. This was something that required relentless efforts with conviction, something that Matsushita already had within him. It was his conviction for success that led him to manufacture a two-way socket and an attachment plug later on. The company grew in employee size and by the end of 1918; there were 20 employees on board. Initially the company faced aggressive movements by its competitors when realizing its sales; the competitors lowered their product prices significantly. Hence Matsushita Electric faced pressures with the decline of sales. However, the owner Matsushita dealt with the problem by contacting the wholesalers directly and sales once again grew high. The company ultimately had a strong foothold in the market.

In the face of growing economy of Japan, reliable employees were hard to find as more people began to get good jobs for themselves. Matsushita again suffered problems from this uncertainty of losing the small number of people he had. His human resource was likely to deteriorate and this would mean a loss that is harsh. When Japan entered the new decade, things changed for worse. Employees were kicked out of work in the face of a declining economy. In 1928, Matsushita founded “Hoi chi Kai" which consisted of 28 people as employees. The company grew by leaps and bounds and by 1929 he had leased a site for his company that was bigger and better. By the end of the year, employees numbered up to 50. This was how the company finally gained a strong position and then onwards there was no turning back. The products initially were bicycle lamps and battery lamps but with his persistence he was able to lead the world's market by a number of innovative electrical items that are still not able to be substituted for any other name.

The brand name “Panasonic” was created in 1955. “pan” means all and “sonic” means sound. Since this name was initially used for sound equipments, hence the name Panasonic. By 2004, Matsushita ...