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Panasonic Corporation History

Panasonic Corporation is without a doubt one of the world's largest and most successful electronics companies.
It has grown from just 3 to 290,000 employees, and accounts for $51.7 billion net sales worldwide. It not only constantly breaking technological barriers, it is also a company that puts the needs of its customers and employees first. In the UK, Panasonic Corporation is more recognisable under the brands of Panasonic and Technics, world-wide they work as National, Ramsa, Quasar and MAS (Matsushita Avionics), manufacturing more than 15 000 different products.

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The story of Panasonic Corporation began in Osaka, Japan in 1918, when Konosuke Matsushita invented a two-socket light bulb. He started producing and selling the light bulb from his own house, with just 3 employees. The invention of a new type of bicycle lamp came in 1923, followed by the development of the first radio just 8 years later. In 1935 they launched their first television, an area of production that has since proved immensely successful. 1935 also marked a turning point in the size, production and sheer growth of Panasonic Corporation. This particular year saw the company manufacturing 600 different kinds of product with sales extending to overseas markets for the first time. Their employee base rose to 3500. By 1942, Matsushita became the first radio manufacturer in Japan. As the swinging sixties approached, the total number of employees had risen to 28000. The company reported profits of 1.5 billion yen
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As Panasonic Corporation grew, Konosuke Matsushita never lost sight of his founding principles - putting the needs of his customers and employees first. He developed his original business Philosophy in 1929, a mission statement that still holds true today - "Recognizing our responsibilities as industrialists, we will devote ourselves to the progress and development of society and the well-being of people

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