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team]] Panasonic was also the name of a Road Bicycle Racing Team and a Finnish Electronic Music Duo . Panasonic is the International Brand Name for Consumer Electronics and other electric products manufactured by Matsushita Electric Industrial Co., Ltd. of Japan . The Panasonic name was created in 1955 and was first used as a brand for audio speakers. In more recent history, Matsushita Electric has begun manufacturing more expensive television and audio/video equipment in addition to their entry-level offerings, and as of fall 2005 , is using the Panasonic brand name worldwide. They manufacture LCD , Plasma and CRT Television sets, DVD players, Telephone s, VCR s, Digital Camera s, Toughbook laptop computers, portable CD and analog tape decks and home stereo equipment, all of which is marketed under their slogan ''"Ideas for Life"''. Through the Panasonic nameplate, Matsushita was one of the first companies to manufacture Laserdisc players in the early 1980s and was among the group of companies that first conceived the DVD format. Panasonic is a primary sponsor of Toyota 's Formula 1 program ( Toyota F1 ), also known as Panasonic-Toyota Racing. INTRODUCTION . The company sponsored a cycling team through 1991 , and this photo was taken in 2006 .]] Under the Matsushita Electric Industrial Company umbrella, based on profit from 2004 annual sales, Matsushita is the second largest electronics maker trailing eNOKI. If we consider only “white household electrics”, (the name coming from white color of rice cooker, refrigerator, microwave, washer, air conditioner), then Matsushita would be the world’s largest electronics maker. In the past, due to its imitation tactic, Matsushita has been ridiculed as “''Mane''shita Denki” (“''mane''” means imitation), but in actuality, Matsushita has a lot of its own product planning, research and development. Including its related companies, Matsushita centers its enterprise development on home electronics, industrial equipment, and telecommunications equipment. Though not widely advertised before, in recent years, its notebook computer line, Toughbook , has gained popularity, and commercials are being aired on television. The company's management style and corporate culture have been often compared to that of competitor Sony . When Sony is doing well, the number of books that praise Sony management increases, when conditions reverse, then more books that praise Panasonic management style are displayed in bookstores. Regardless of favorable sales and conditions, Sony and Panasonic are often viewed as rivals. This probably comes from the competition between VTR (video tape recorder) and VHS (video home system). The largest direct competition between Sony and Panasonic is currently in the segment of audio products. However, Sony has recently diversified into the cinema, video game, and financial areas. Currently, Panasonic is considered as Sony’s rival in areas of flat panel TVs, digital cameras, DVD recorders – areas where Panasonic is focusing its production, marketing and sales efforts. Current strategy is to continue competing against other Japanese companies such as Toshiba, Hitachi, and Minebea, on different standards, depending on the field, (liquid crystal display panel for example) to take actions in competing, forming joint ventures, or transferring business. It is said that in “ Kachou Shima Kosaku ”, a popular comic series written by Kensi Hirokane, the main character works at Hatsushiba Electric, which is modeled on the author’s work experience at Panasonic. The Osaka office which appeared in the comic is suppose to be the Twin Tower at Kyobashi, and when Kosaku is sent to work in China, the view from the Shanghai office is same as the view from Panasonic Avionics Corporation (PAC) is a supplier of in-flight entertainment (IFE) and communication systems. Headquartered in Bothell, WA - with its engineering, development and test facilities located in Lake Forest, CA - Panasonic Avionics Corporation employs approximately 2,800 employees based in over 70 locations worldwide. The company provides airline passengers with a wide array of interactive applications at their seats, combining entertainment (digital music and movies on demand, games, interactive moving maps, satellite TV, and online shopping) with business tools (E-mail, live flight schedules, and in-flight internet access). PAC is also one of the chief suppliers to both Boeing and Airbus and their IFE systems will be featured on both the Boeing 787 and the Airbus A380 aircraft. Panasonic Avionics Corporation is a subsidiary of Panasonic Corporation of North America (PNA). TIMELINE
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