Brand History and Description –
Matsushita created Panasonic brand in 1955 specifically for the American market, since its National brand was already being sold by others. The word Panasonic is made up of ‘pan’ implying ‘all’ or ‘bread’ and ‘sonic’ signifying ‘sound’. As the product was audio equipment the word ‘Panasonic’ seemed appropriate. The company also sold their first bread machine in America.
In 2008 on 10th January, Matsushita proposed to change its name to Panasonic Corporation. After approval from shareholders in their annual general meeting on 26th June 2008, the change in name was effectuated from 1st October of the same year. Simultaneously, the company gradually phased out its National branded products and replaced them by Panasonic brand. The entire process was completed by 2010 March.