Panasonic is principal sponsor of the Toyota F1 team

Classic Panasonic bicycle ad still visible in New York City. Although this photo was taken in 2006, the company stopped offering bicycles in the U.S. market[1] back in 1989.

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Panasonic (42205)

Panasonic is an international brand name for Japanese electric products manufacturer Matsushita Electric Industrial Co., Ltd. Under this brand Matsushita sells both consumer electronics and electronics components. more...

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The Panasonic name was created in 1955 and was first used as a brand for audio speakers. In more recent history, Matsushita Electric has begun manufacturing more expensive television and audio/video equipment in addition to their entry-level offerings, and is using the Panasonic brand name worldwide. They manufacture LCD, plasma and CRT television sets, DVD players, telephones, VCRs, digital cameras, laptop computers under the sub-brand Toughbook, portable CD and analog tape decks and home stereo equipment, all of which is marketed under their slogan "Ideas for Life". Through the Panasonic nameplate, Matsushita was one of the first companies to manufacture Laserdisc players in the early 1980s and was among the group of companies that first conceived the DVD format.

Panasonic is a primary sponsor of Toyota's Formula 1 program (Toyota F1), also known as Panasonic-Toyota Racing. Hiro Matsushita, grandson of the company founder, is a former race car driver who stays actively involved in racing.

Introduction

The brand Panasonic was created by Matsushita in 1955 for the US market because the National brand was already registered by others . As its original use was for audio equipment, the Panasonic brand was created from the elements "pan-" for "all" and "sonic" for "sound".

Based on 2004 annual sales of electronics, Matsushita is the largest Japanese electronics maker ahead of Hitachi. Within the category of white goods, Matsushita is the world’s largest manufacturer. In the past, due to its imitation tactics Matsushita has been ridiculed in Japan as "Maneshita" ("mane" means imitation), but in fact Matsushita does vast amounts of its own product planning, research and development.

Including its related companies, Matsushita has developed a wide variety of enterprises, centering on home electronics, industrial equipment, and telecommunications equipment. Though not widely advertised before, in recent years its notebook computer line (Toughbook) has gained popularity and commercials for it are being aired on television. Other brand names associated with Panasonic include its Viera televisions and Lumix digital cameras.

The company's management style and corporate culture have been often compared to that of competitor Sony. When Sony is doing well, the number of books that praise Sony management increases, when conditions reverse, then more books that praise Panasonic management style are displayed in bookstores. Regardless of favorable sales and conditions, Sony and Panasonic are often viewed as rivals. This view probably arose from the videotape format wars between VHS (supported by Panasonic) and Betamax (supported by Sony). The largest direct competition between Sony and Panasonic is currently in the segment of audio products; Panasonic is also considered as Sony’s rival in sales of flat panel TVs, digital cameras and DVD recorders – areas where Panasonic is focusing its production, marketing and sales efforts. In contrast, Sony has recently diversified into the cinema, video game, and financial areas, whereas Panasonic's whitegoods have no competition from Sony.