PanasonicElectricWorks
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Panasonic gussies up LED prototypes, invites you to play (video)
How do you get laypeople excited about LED lighting? Make it pretty, of course -- that's what Panasonic Electric Works is doing this week at Salone del Mobile 2011, in Milan. Working with designer Ferruccio Laviani, the firm has built an interactive installation out of upcoming products and prototypes, inviting visitors to explore "new dimensions of spatial lighting with LED and OLED." The gimmicks aren't bad; guests can peek through transparent OLED panels, interact with a spacial sensor controlled light wall, and learn about the products that make up the exhibit in a special "technical zone." Featuring a theme dubbed "piano-forte," the exhibit seeks to associate dynamic lighting with 18th century musical sensibilities, promising to make everyone a "virtuoso" of lighting -- it's a bit heavy handed, but the results sure are easy on the eyes. Don't fancy a trip to Italy just to soak in artsy LED beauty? No worries, just hit the concept video at the break. [Image courtesy of designboom]
Panasonic's Sanyo and PEW buyout official: subsidiaries for life
Congratulations, Panasonic, you're now the adoptive father of two companies, Sanyo and Panasonic Electric Works. We know, the plan's been all but confirmed since July, but it's nice to see the deal go through and all the necessary paperwork signed. Both now-wholly-owned subsidiaries (through a share exchange that commenced today) are scheduled to be de-listed from the Tokyo Stock Exchange on March 29th, 2011, and after that... well, independence was fun while it lasted, eh chaps?
Panasonic to spend $9.4b on buying out Sanyo and PEW shares, posts robust quarterly profits
Clearly dissatisfied with what it sees in the mirror, Panasonic has today announced its decision to bulk up. A new share issue expected to raise ¥500 billion ($5.7 billion) will be enacted soon as part of raising the cash to complete the buyout of Sanyo Electric and Panasonic Electric Works. Don't ask us why a company named Panasonic has to buy another company with Panasonic in its name, but them's the facts. The total outlay is expected to come in at around $9.4 billion and is justified by Panasonic as fundamental to its future strategy of expanding into environmentally friendly tech and developing a three-pronged operating paradigm by 2012. The Osaka-based company is also reporting a ¥43.7b ($498 million) profit for the last quarter -- a major upswing from a ¥53b loss in the same period last year -- though that's information the market seems to have ignored. Panasonic shares have plunged down 7.7% in the immediate aftermath of the acquisitions being announced, while Sanyo's have shot up. Click past the break for the novella-sized press release explaining the details of the deal.
