Panasonic is yet to reveal a price or marketing strategy for the smartphone, which will use the Android operating system.
The model will feature a D-shaped design, a slim bezel with an OLED screen, and will be waterproof.
The phone will launch three months before the Olympic Games, although a spokesperson declined to comment on whether the brand would be associating the phone with the Olympics.
Panasonic's worldwide Olympic sponsorship covers the audio and video equipment category, while the wireless communication equipment category belongs to Samsung.
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