Panasonic and Leica Camera AG have announced that both companies have reached an agreement for a new comprehensive business alliance. Both companies have agreed to increasingly bundle their core competencies 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.
L² Technology will unify the strengths of Leica and Lumix, and be a symbol of the collaboration by combining the technologies and know-how of the two companies in the fields of new camera and lens products and next generation software, and create technologies and solutions that deliver new value in the new era.
Through this collaboration, both companies will be able to maximize the synergies by Leica's optical and imaging technology and Panasonic’s video and digital technology that have been cultivated over many years in the camera and imaging market, and jointly explore new creativity and expressive power. Perhaps we will see more professional video features added to Leica's SL camera line-up in the future?
Leica and Panasonic have worked together for a number of years; Leica has rebadged versions of Panasonic's compacts - and in recent years they have co-developed the L-mount series of mirrorless cameras, alongside Sigma.
Akira Toyoshima, CEO of Panasonic Entertainment & Communication Co.,Ltd had this to say:
“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 breathtaking 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 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 in order to jointly create solutions for the future.
This announcement could bring a number of features and improvements to both brands, Lumix offering vast knowledge of the world of video, while Leica offer superior optical technologies than can take the Lumix brand further, I am sure we will see exciting things from the these two companies as the development of L² Technology grows, but another question beckons... Will Leica produce Micro Four Thirds lenses?