I think this is true. And I think the beginnings of it goes back well before the 50's and 60's, to George Eastman. I have read that he liked to make up catchy sounding trademark names. He made up "Kodak" by starting with the letter "K," which appealed to him, and trying out various letter combinations until he hit on Kodak, which he had registered as a trademark by 1888. I suppose he must have felt that "X" was another strong letter, like "K." I'll bet he made up "Panatomic," too, along with many other trademarked names.
Eastman was very inventive, both technically and in business. If he were alive today, I'm sure Kodak would be in much better shape!