Panasonic MD: How we have stood the test of time

As company celebrates 100 years.

Speaking at the launch of Panasonic’s new AV range, Panasonic managing director, Paul Reid described consumer electronics as the DNA of the company as it celebrates its 100th anniversary this year.

“The new products demonstrate why Panasonic has been at the forefront of innovation for the past 100 years and why it continues to develop products that improve the way we live and work,” Reid said.

“One-third of start-up companies launched today don’t last 10 years which is an opportune time to consider why it is that Panasonic has survived 100 years and examine the company’s history.”

Reid said there were three reasons why the company has stood the test of time and will continue to do so. “Firstly, by creating innovative technology in our products and adapting constantly to a rapidly changing world. Secondly, the company has never compromised on quality and reliability and thirdly, Panasonic has always been a values-driven company with business principles on contributing to society, conducting business fairly and honestly, putting people before products, and being environmentally sustainable.

Panasonic Australia managing director, Paul Reid 

“Our vision is to continue to create better lifestyles for consumers with a focus on creating innovative technologies that are connected and controlled by the internet of things (IoT). At the same time the company will foster and accelerate open innovation through collaboration with joint ventures with industry in areas such as Artificial Intelligence, robotics and lighting. Panasonic will connect appliances and people to networks with the emphasis on experiences and less on things,” he said.

“So, as we reflect on our 100th anniversary as a technology company, we don’t look backwards, we look forwards, taking up new challenges and new ways to contribute to society as the founder of Panasonic asked us to do many years ago, to enrich the lives of Australians and home and at work. As we celebrate a century of innovation, Panasonic is taking a firm step into the future.”

The company was founded on March 7, 1918 by 23-year old Konosuke Matsushita. The first Panasonic TV was introduced in 1952, followed by colour TV in 1960 with the Tokyo Olympics in 1964 said to be key to driving the uptake of this new technology.  Panasonic delivered plasma TV in early 2000 and brought this know-how to bear to create 4K OLED picture quality from 2017. 

Panasonic employs over 255,000 people around the world, across almost 500 consolidated companies that address a vast range of industries and vertical markets. The company started trading in Australia in 1962 and became Panasonic Australia in 1989.

Examples of the longevity of its product flowed from a recent Facebook competition around its 100th anniversary that asked followers to send images of still working products from the 60s and 70s still going strong. (Kymberly Martin has a Panasonic blender that is almost 25 years old and still works perfectly, while Emily Bencic has a 20 year old Panasonic microwave in perfect working order).

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