Saturday, June 23, 2018

LEICA CAMERA AG AGAIN RECORDS STRONG REVENUE GROWTH






Once again Leica Camera AG has bucked the general downward trend of the camera market for the fifth year in a row with a strong revenue growth of 5 percent over the previous fiscal year to 417 million euros.  According to chairman of the board Dr. Andreas Kaufmann, earnings before interest and taxes recently increased by 17 percent.

Unlike other camera manufacturers Leica realized the competition of traditional cameras by the ever increasing sales of mobile phone cameras.  Their partnership with mobile phone manufacturer Huawei has made Leica one of the world’s leading providers of smartphone lens applications

The main driver of growth has been the systematic realignment of the company in recent years. In particular, the setting up of an in-house Retail Distribution division has made a major contribution to revenue growth. China is the number-one growth market where Leica is planning 20 to 30 new stores alone. The Group is also 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 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.

Leica just recently introduced a new venture, Leica watches.  It is much too soon to make any predictions how well this will fare compared to the rest of the company.  The current fiscal year of 2018-2019 will be interesting to look back on a year from now.



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