Unlike virtually the rest
of the camera industry, Leica again showed considerable growth for their 2016/2017
fiscal year. While the industry in
general declined about 10% during the same time period, Leica was able to
record a growth of over 6%. The only
segment of the general camera market which did show some promise, were
mirrorless cameras. Yet of the major
camera manufacturers, both Canon and Nikon have nothing to offer other than
consumer cameras, and those are rapidly declining because of the onslaught of smart
phone cameras. As a matter of fact,
Nikon recently announced the layoff of over 1000 workers and the closure of a
manufacturing plant in China.
Leica stand out with their
lineup of cameras which have proven to be at the forefront in terms of design,
quality and performance.
Here is the Leica press
release:
Leica Camera AG records strong revenue growth for the
2016/2017 financial year and bucks the downward trend in the camera market
The Leica Camera Group
achieved revenue of almost 400 million euros in the past financial year
2016/2017 (31 March 2017) and can therefore look back very positively on the
previous twelve-month period. With strong revenue growth of more than six
percent, Leica bucked the overall downward trend in the global camera market,
which declined by around 10 percent in the same period.
In the first few months of
the current financial year 2017/2018, cumulative growth stands at 15 percent,
thus underscoring the positive global performance of Leica Camera AG. Despite a
market environment that remains challenging, the CEO of Leica Camera AG,
Matthias Harsch, once again expects a record-breaking result for the 2017/2018
financial year. As a result, the revenue of Leica Camera AG has increased more
than fourfold since anchor investor and majority shareholder Dr Andreas
Kaufmann came on board in 2004.
The main driver of growth
is the systematic realignment of the company that has taken place in recent
years. In particular, the setting up of an in-house Retail Distribution
division has made a major contribution to revenue growth. Leica now has 90
monobrand stores around the world, which are vital in terms of promoting brand
experience in the context of photography. ‘China is our number-one growth
market,’ says Matthias Harsch, who is planning 20 to 30 new stores in the
country alone. The Group is now strengthening its presence in the service
sector with the Leica Akademie brand in order to boost the appeal of
photography amongst younger target groups.
The extremely successful
technology and brand partnership with Chinese company Huawei in the field of
mobile phone photography makes Leica one of the world’s leading providers of
smartphone lens applications, a burgeoning technology segment that serves as a
global basis for new product ideas and applications in photography.
The entry of Leica into
the eyewear segment (glasses) – a move that was completed in 2017 – offers
further potential for strong revenue growth in the years ahead. Operating under
the name of Leica Eyecare, the company will systematically tap into this global
market in conjunction with its technology partner Novacel.
For other articles on this blog scroll down in the column to the right to BLOG ARCHIVE
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