April 27, 2025, 6:47 am | Read time: 5 minutes
Many people may recognize the manufacturer Panasonic from living rooms or their trusted electronics store. The company has a long history of success.
In this country, Panasonic is primarily known as a brand for TV sets. But that’s only part of the story, as Panasonic is not just a brand but also the company name. The Panasonic Holdings Corporation is one of the world’s largest electronics companies and has been considered a leading global player in the industry for decades. It’s also noteworthy that the company still follows the social vision of its founder, Konosuke Matsushita.
More Than 100 Years of Panasonic
Panasonic can look back on more than 100 years of company history–though initially under a different name. Founded by Konosuke Matsushita on March 7, 1918, in Osaka, Japan, the company was originally called Matsushita Electric Appliance Factory. At the time, the 23-year-old had improved the screw base for light bulbs after intensive development work and subsequently developed a double light bulb socket that allowed two devices to be operated simultaneously from one outlet.
With these products and three employees, the history of today’s global corporation began. By 1922, Matsushita employed 50 people, and the product range included more than ten items. Starting in 1923, an impressive series of innovations followed, making the company one of the key drivers in the electronics industry.
Innovations Galore–Including in Television
The list of inventions and product innovations is long. In 1923, Matsushita introduced a novel battery-powered bicycle lamp, which became a success thanks to its exceptional runtime and its own distribution network. In 1927, the first household appliance, an electric iron, followed.
In the 1930s, the first subsidiaries were established. By 1935, the conglomerate was known as Matsushita Electric Industrial Co., while Matsushita Electric Trading Co. took over the export business. The company now employed 3,500 people and produced more than 400 items. In 1937, the first hairdryer hit the market, and in 1939, successful tests with television broadcasts began.
The first in-house television set followed in 1952–after the turmoil of World War II. The high-quality devices laid the foundation for a success story that extended into the 2010s. However, pressure from Chinese manufacturers like TCL and Hisense has increased significantly in recent years. Panasonic even considered exiting the TV sector at one point, as reported by TECHBOOK in February 2025.
The company has since realigned its TV business. Its own production capacities have been significantly reduced, and Panasonic is now focusing more on strategic partnerships. A key role is played by the Chinese manufacturer Skyworth. Parts of current TV models are manufactured there, while Panasonic remains responsible for image calibration, quality control, sound tuning, and brand positioning. Panasonic acts as a technology and brand partner, while Skyworth handles significant parts of the hardware production. This allows the traditional brand to remain present in the TV market while reducing economic risks and investments.
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From Matsushita to Panasonic
In the 1950s, the company introduced new brand names: “National” in 1952 for various products, and “Panasonic” in 1955 for speakers and lamps. The name combined the Greek “Pan” (all) with “Sonic” (sound). In 1958, the first room air conditioner appeared, and Technics was founded in 1965. In 1970, the direct drive for turntables followed, and in 1971, a programmable washing machine.
In 1972, the legendary Technics SL-1200 was released, shaping DJ culture. In 1977, the microwave with grill function and the VHS standard developed by Matsushita subsidiary JVC were introduced. In 1982, the first home video cameras followed. In 2008, Panasonic introduced the LUMIX G, the world’s first mirrorless system camera with interchangeable lenses (Micro-Four-Thirds standard).
In 2008, Matsushita Electric Industrial Co., Ltd. became Panasonic Corporation. It wasn’t until 2022, as part of a corporate reorganization, that it was renamed to the current Panasonic Holdings Corporation.
Matsushita Set Standards
Konosuke Matsushita, who retired in 1973 and died in 1989 at the age of 94, left a lasting impact on the company. He structured the corporation early on into independent business units–a model that is standard today.
At the same time, he always saw entrepreneurship as a social responsibility. In 1929, he formulated his motto of “harmony between company profit and social justice,” and in 1933, his seven leadership principles, including service to the public, teamwork, and gratitude.
During the Great Depression, Matsushita reduced production instead of laying off staff–with full wage compensation. After World War II, his company was the first in Japan to introduce a five-day workweek with the same pay. To this day, he is considered the “God of Management” in Japan.
Today, Panasonic is active in areas such as automotive, building and energy technology, industrial automation, and consumer electronics. Around 230,000 employees work for the corporation worldwide. Even though markets and technologies have changed, the commitment to combining innovation with social responsibility remains.