Top 10 Consumer Electronics Companies in the World 2017

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The Japanese conglomerate Panasonic was founded in the year 1918, by Mr. Konosuke Matsushita, with the aim of making life better for its consumers and building a better world around them.

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It was initially named “Matsushita Electrical Industrial Co Ltd” and specialized in supplying duplex lamp sockets. Nine years later, in 1927, Panasonic came up with its second product, bicycle lamps which were sold under the brand name of “National”, while also starting the production of electric irons, and in 1931, Panasonic came out with its first 3 tube radio.

During the Second World War, Panasonic focused its production activities on motors, electric irons, vacuum tubes and light fixtures, post which the production also diversified to include bicycles and radios. Panasonic was listed under the Tokyo Stock Exchange in 1949.

Panasonic further continued its efforts to diversify the product line. It released its electrical refrigerator and rice cooker in 1953 and 1956 respectively. 1958 saw Panasonic coming up with its own line of tape recorders and home air conditioners, while also establishing Panasonic Mobile Communications.  In 1961, the company bagged the rights to manufacture television sets for USA, and it got listed under the New York Stock Exchange in 1971.

Panasonic started production of its line of microwaves and CD Players in 1966 and 1982 respectively. In 1983, the Panasonic Senior Partner was launched, which was the first ever Japanese computer to be completely IBM PC compatible. Panasonic further launched its range of personal computers and DVD players in 1990 and 1996 respectively. In a major strategic move, Panasonic acquired PEW and SANYO in 2011.

Panasonic is also a very ecologically sensitive company and is ranked 9th in the Greenpeace’s Guide to Greener Electronics. Major competitors to Panasonic include Hitachi, Sony, Toshiba and Canon. The company is headquartered in Kadoma, Osaka and currently employs 2,49,520 employees. The current president of Panasonic is Mr. Kazuhiro Tsuga.

Revenue (USD) : 17.52 Billion

Profit (USD) : 1.1 Billion

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