Arnold has picked up ad chores for Panasonic's consumer electronics business following a review, according to sources.
MDC's Kirshenbaum Bond Senecal + Partners and its Media Kitchen unit had been the incumbents on the account. Those agencies did not participate in the competition, which began in early November.
Panasonic spent $25 million in domestic measured media in the first three quarters of 2009 after spending $29 million on ads during all of last year, per Nielsen. The company's U.S. ad spending in 2007 was $47 million.
Havas-owned Arnold referred questions to the client, where a representative declined comment.
The agency's New York office was a runner-up for the business three years ago along with Omnicom's Merkley + Partners when Kirshenbaum added the assignment.
Arnold has struggled of late, winning only small accounts in the past 12 months while, like many of its brethren, enduring layoffs.
Accounts out the door in that period include Choice Hotels, Citizens Bank and Colonial Williamsburg. Arnold also failed to convert in major pitches for UPS, Expedia.com and several other high-profile clients. The shop is currently a finalist for Mike's Hard Lemonade.