In January, Panasonic and Leica announced that they had reached an agreement for a new comprehensive business alliance. Both companies agreed to bundle their core competencies increasingly and to develop new technologies and solutions resulting from this collaboration under the name of L² Technology ("L squared Technology"), which symbolically uses the two Ls of Leica and Lumix in their marketing activities going forward.
However, since the L² Technology announcement, customers have been a little confused about what this new partnership actually means for both brands. Thankfully Panasonic has thrown its hat in the ring to help explain the partnership in greater detail, with the following handy video:
"With the arrival of an era in which photos and videos are shared globally in real-time, cameras are required to have the capability to create more impressive and breathtaking expressions," says Akira Toyoshima, CEO of Panasonic Entertainment & Communication.
"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."
Returning the compliments, Matthias Harsch, CEO of Leica Camera AG, said: "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 to jointly create solutions for the future."
I'm sure we will see exciting things from these two companies as the development of L² Technology grows.