updated 09:55 am EST, Thu January 10, 2008
Matsushita now Panasonic
Matsushita on Thursday ended years of tradition by formally adopting the Panasonic brand as its name around the world following a board decision today. The move has been described as a difficult one as it drops the name of the company's founder Konosuke Matsushita but is also characterized as a necessary one: most customers only think of the Panasonic label and its association with Viera HDTVs or other electronic devices, the company says. The change is expected to help link the products back to its parent and help the firm's overall image.
With shareholder approval, the name change should take effect at the start of October and will bring Panasonic into line with other companies such as Hitachi and Mitsubishi, many of whom typically run several different major business lines but maintain the company name in each case.