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The company was founded in 1918 by Matsushita Konosuke to manufacture and market the electric lamp sockets and plugs he designed. It was incorporated in 1935 and began expanding rapidly into a number of varied electrical product lines. Panasonic has recently designated India as a regional hub to drive growth and build deeper inroads into the fast-emerging Asiatic, Middle Eastern and Western economies. Starting from India, the company wants to create know-how to address consumers who are based out of India and then take the knowledge to emerging markets.