Leica and Panasonic Sign Strategic Comprehensive Collaboration Agreement
Develop “L² Technology” as Symbol of the Collaboration
Today, Panasonic Entertainment & Communication Corporation, the business unit responsible for LUMIX imaging, and Leica Camera AG announced a new agreement for a comprehensive and expanded business alliance. Both companies are committing to increase the collaboration of their core competencies and to develop new technologies and solutions under the new name of “L² Technology ” (L squared Technology).
L² Technology will unify the strengths of Leica and LUMIX, combining the technologies and expertise of the two companies in the fields of new camera and lens products and next-generation software. Through this collaboration, both companies will be able to take advantage of the deep experience cultivated by Leica's optical and imaging technology and Panasonic’s video and digital technology to imagine new creative possibilities.
Both Leica and Panasonic will jointly invest in new technologies that can be incorporated into camera and lens products and will incorporate mutually developed technologies into each other's Leica and LUMIX products to further enhance their product capabilities.
"I am very pleased to have a broad partnership with Leica Camera. Through joint development and marketing with Leica, we will be able to provide products that delight as many customers as possible,” said Yuki Kusumi, CEO of Panasonic Holdings Corporation. “This is a major turning point that will undoubtedly lead to the development of the imaging business. I personally can't wait to start using the new LUMIX with L² Technology."
Furthermore, Akira Toyoshima, CEO of Panasonic Entertainment & Communication Corporation, commented, “With the arrival of an era in which photos and videos are shared globally in real time, cameras are required to have capability to create more impressive and breath-taking expression. I have always been impressed by the high picture quality and the picture-making philosophy that Leica has developed over its long history. I am very pleased and excited to continue working with Leica to develop technology that will enable people around the world to share their emotions."
Matthias Harsch, CEO of Leica Camera AG, adds, "We have been working with Panasonic for many years in a spirit of partnership and trust, and their extensive expertise is undisputed. The combination of our competencies in L2 Technology is another milestone in the partnership and proves that the best way to meet today's challenges in the camera market is not to segment and specialize, but to deepen capabilities in order to jointly create solutions for the future."
History of collaboration
The cooperation between Leica Camera AG and Panasonic Corporation began in 2000, when the companies agreed to collaborate on lenses for digital audio-visual equipment; the agreement was further enhanced in 2001 when the companies agreed to cooperate in the digital camera sector as well. Since then, the companies have steadily expanded their technological cooperation. In 2018, together with Sigma, the companies founded the "L-Mount Alliance," an unprecedented type of cooperation that enables Panasonic, Sigma and, since 2021, Ernst Leitz Wetzlar GmbH to use the L-mount standard developed by Leica for their own developments, enabling members to offer cameras as well as optics with this lens mount.
About the Panasonic Group
A global leader in developing innovative technologies and solutions for wide-ranging applications in the consumer electronics, housing, automotive, industry, communications, and energy sectors worldwide, the Panasonic Group switched to an operating company system on April 1, 2022 with Panasonic Holdings Corporation serving as a holding company and eight companies positioned under its umbrella. Founded in 1918, the Group is committed to enhancing the well-being of people and society and conducts its businesses based on founding principles applied to generate new value and offer sustainable solutions for today’s world. The Group reported consolidated net sales of 7,388.8 billion yen for the year ended March 31, 2022. Devoted to improving the well-being of people, the Panasonic Group is united in providing superior products and services to help you Live Your Best. To learn more about the Panasonic Group, please visit: https://holdings.panasonic/global/
About Leica Camera – A Partner for Photography
Leica Camera AG is an international, premium manufacturer of cameras and sports optics. The legendary reputation of the Leica brand is based on a long tradition of excellent quality, German craftsmanship and German industrial design, combined with innovative technologies. An integral part of the brand's culture is the diversity of activities the company undertakes for the advancement of photography. In addition to the Leica Galleries and Leica Akademies spread around the world, there are the Leica Hall of Fame Award and, in particular, the Leica Oskar Barnack Award (LOBA), which is considered one of the most innovative sponsorship awards existing today. Furthermore, Leica Camera AG, with its headquarters in Wetzlar, Hessen, and a second production site in Vila Nova de Famalicão, Portugal, has a worldwide network of its own national organisations and Leica Retail Stores.