MarketWatch: Matsushita Electric Industrial Co. said Thursday it will formally change its name to Panasonic, its best-known product brand, highlighting the growing importance of brands and marketing in the technology industry.
The move by the Osaka-based company to adopt the Panasonic name under which its household appliances are sold in major markets including the U.S., means that it’s dropping the name of its founder as it ramps up branding efforts outside Japan as a means of combating stagnant demand for its goods at home.
The change, which will be effective Oct. 1. In its statement, Matsushita described the name change as a “step forward to make the company a truly global corporation.”
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