Panasonic, the popular consumer electronics company, announced today that they will begin sales of their own smartphones in Japan early next year, followed by overseas in 2012. Each of its phones will be based on Google’s Android platform and will be set to compete with not only the iPhone, but Samsung’s Galaxy S smartphones as well.

The consumer electronics giant admitted they were late to the smartphone game, but plans to make up for the wait with its handsets emphasizing network capabilities with its other Panasonic products.

Osamu Waki, head of Panasonic mobile communications, acknowledges the reason for the delayed venture into the smartphone market.

“We misjudged the speed at which smartphones would be taken up in the Japanese market, with the rapid shift to Android, we want to catch up quickly.”

With plans to sell around 15 million units worldwide in 2015, along with 5.4-5.5 million units in Japan in the year to March, they sure want to enter the smartphone market with a bang.

[Via Reuters]