Panasonic

In 1894, Konosuke Matsushita founded what would later become Panasonic, a multinational electronics corporation known for its consumer electronics and appliances.

Panasonic, originally founded as Matsushita Electric Industrial Co., was established on March 7, 1918, by Konosuke Matsushita. The company started by producing light sockets and later expanded into manufacturing entire appliances.

Since its launch over 100 years ago, Panasonic has evolved to become one of the largest Japanese corporations worldwide.

In March 1923, Konosuke Matsushita successfully developed a cannonball-shaped battery-powered shell lamp for bicycles, using a special battery assembly method and new bulb-type lamp to provide 30 hours of operation.

In September 1931, Matsushita Electric Factory acquired the Komori Battery Factory to meet the increasing demand for batteries due to the success of their lamp products.

In 1934, Konosuke Matsushita implemented a divisional system within the company, which aimed to streamline operations and improve efficiency.

In 1935, Matsushita Electric Industrial Co. Ltd. and Matsushita Electric Works Ltd. were established, marking the beginning of these prominent companies in the electronics industry.

In 1951, Konosuke Matsushita, the founder of Panasonic, made his inaugural trip to the United States, a significant event in the company's history.

In 1952, Panasonic entered into a technical cooperation agreement with Philips, marking a milestone in their collaboration for technological advancements.

Panasonic introduced its first refrigerator in 1953, which quickly became a symbol of the ideal lifestyle where families could enjoy fresh produce and delicious food. Over time, refrigerators evolved to include features like perfect temperature control and partial freezing to keep perishable foods fresh longer.

In 1955, Panasonic introduced its first electric razor, revolutionizing the shaving experience by eliminating the need for water. This marked the beginning of a new era in shaving technology.

In 1958, Panasonic introduced its first cylinder vacuum cleaner, which helped reduce the time needed for housework. This innovation marked the beginning of Panasonic's advancements in vacuum cleaning technology.

In the 1960s, Panasonic's design department focused on expanding the perception of design beyond just the looks of a product to include its functionality and user experience.

Panasonic introduced its first microwave oven in 1963, revolutionizing meal preparation by reducing the labor required. Subsequent models added features like convection oven heating and inverter technology for precise heating control.

In 1964, Panasonic introduced the stereo console 'Asuka,' which was praised for its exceptional sound quality and elegant design resembling a piece of furniture.

In 1965, Panasonic debuted its first product under the Technics brand, which featured stable rpms for precise sound reproduction, setting a new standard in the broadcasting industry.

In 1967, the home microwave oven was introduced, revolutionizing the way people cooked and heated food at home.

In 1969, Panasonic marked its 50th anniversary, highlighting its success and longevity in the electronics industry.

In 1970, Panasonic introduced the fully-automated component insertion machine called 'Panasert'. This machine revolutionized the manufacturing process by automating the insertion of components.

In 1982, Panasonic introduced its first consumer video camera and portable recorder, providing people with the freedom to document their lives. Subsequent models became more compact and lightweight, with electronic image stabilization making it easier to capture important events on videotape.

In 1985, the VHS camcorder was introduced, revolutionizing the way people captured and recorded videos.

Panasonic has been a top level sponsor of the Olympic Games since the Seoul Olympics in 1988.

On April 27, 1989, Konosuke Matsushita, the visionary founder of Panasonic, passed away at the age of 94, leaving behind a legacy of innovation and leadership.

In 1991, Panasonic launched the 1/2-inch Broadcasting Digital VTR 'D-3', revolutionizing the broadcasting industry with its advanced technology.

In June 1994, joint ventures between Matsushita Electric Industrial and Shun Hing Group led to the establishment of Panasonic Shun Hing Industrial Devices Sales (Hong Kong) Co., Ltd. and Panasonic SH Industrial Sales (Shenzhen) Co., Ltd., making Rasonic a product brand for MEI and subsequently the Panasonic Corporation.

In 1998, Panasonic established Panasonic Industrial Europe.

In 2003, Panasonic unified its brand globally under the name Panasonic.

In 2007, Panasonic made a significant declaration of Eco-Ideas.

On October 1, 2008, Matsushita Electric Industrial Co., Ltd. changed its name to Panasonic Corporation to conform with its global brand name.

Panasonic and Sanyo announced merger talks on November 3, 2008, leading to Panasonic acquiring Sanyo in December 2009, forming a corporation with significant revenues.

On January 16, 2010, Panasonic signed a three-year, ₹ 47 million (£518,500) jersey sponsorship deal for the India national football team.

On May 11, 2012, Panasonic revealed plans to purchase a 76.2% stake in FirePro Systems, an Indian company specializing in infrastructure protection and security solutions like fire alarm systems and video surveillance.

In November 2012, due to a predicted net loss of 765 billion yen, Panasonic witnessed a significant drop in shares to the lowest level since February 1975. Consequently, the company declared a 41% plunge in shares and revealed plans to cut 10,000 jobs and undergo further divestments.

In July 2014, Panasonic reached a basic agreement with Tesla Motors to participate in the Gigafactory, a battery plant planned by Tesla in the U.S. This collaboration aimed to reduce Tesla's battery costs by 30% and employ 6,500 people.

In September 2014, Panasonic announced the revival of the Technics brand. This move marked a significant event in the history of Panasonic, showcasing their commitment to reviving and reintroducing a well-known brand.

On September 25, 2018, Panasonic became a founding member of the L-Mount Alliance and revealed plans to launch two full-frame mirrorless cameras in 2019, the Panasonic Lumix S1R and Lumix S1. These cameras will feature Dual Image Stabilization technology and Lumix Pro support service.

In 2019, three factories operated by Panasonic Brazil became the company's first zero-CO2 factories in the Americas. This achievement was attained by reducing fossil fuel usage, utilizing carbon credits, and sourcing 100% renewable electricity.

In March 2021, Panasonic announced the acquisition of Blue Yonder for $US6.45 billion, following a previous purchase of a 20% stake in Blue Yonder in 2020. This deal is considered significant in the business world.

Yuki Kusumi assumed the position of President and CEO of the company in April 2021.

In 2022, Panasonic announced a reorganization plan which split the company into Panasonic Holdings Corporation and converted its divisions into subsidiaries.

Panasonic Industry Europe GmbH and Panasonic Electric Works Europe AG have successfully merged on 1st October 2022.