Panasonic is set to launch an Android smartphone in March 2012

JAPANESE ELECTRONICS FIRM Panasonic plans to launch a smartphone in Europe next year.

Panasonic's mobile phones achieved little success in markets outside of Japan and six months ago the firm said it would stop selling feature phones outside the country. However, according to Reuters, the firm will launch an Android smartphone in March 2012, expecting to sell 15 million units next year.

Toshinori Hoshi, head of Panasonic's mobile communications unit said, "We are well aware of our powerful competitors [...] However, market shares are changing dramatically and if we launch into this fast-changing market, we believe we have a chance of a hit."

Details about Panasonic's upcoming smartphone are scant, though Reuters cites a 4.3in OLED screen, adding that it will target business people aged in their 30s and 40s. A business phone would suggest typically suggest a hardware keyboard.

The fact that Hoshi said Panasonic might have just a chance of success underlines the challenges faced by the company. But with the smartphone market growing so rapidly, it is likely that the firm would rather have a small piece of a big pie rather than nothing at all.

Panasonic's announcement comes after Sony revealed that it will buy out Ericsson's stake in the firm's joint mobile phone venture, Sony Ericsson. However there is no guarantee that either firm can be successful in the highly competitive smartphone market, with established players such as LG, and more recently HTC, finding tough going against the smartphone industry giant Samsung. µ