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.
For other articles on this blog please click on Blog Archive in the column to the right
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For other articles on this blog please click on Blog Archive in the column to the right
To comment or to read comments please scroll past the ads below.
All ads present items of interest to Leica owners.
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