The Leica Camera Group reports record results for the 2021/22 financial year and will in future develop cameras for smartphones together with Xiaomi
Wetzlar, June 30, 2022. The Leica Camera Group reports record results for the 2021/2022 financial year (April 1, 2021 to March 31, 2022). Compared to the previous year, sales increased by more than 16% and, at € 450 million, achieved the best business result in the company’s more than hundred-year history. According to Matthias Harsch, CEO of Leica Camera AG, the return on sales also increased significantly. The international premium manufacturer of cameras and sports optics products can thus draw a more than positive balance from the past financial year and was able to accelerate international growth despite the Corona crisis and its effects on supply chains and retail.
The consistent expansion of the global sales and retail network as well as the online business is a key factor for growth. With the realignment of the US business and the establishment of new country organizations in the Middle East and Scandinavia, the company has continued its business in strategically important premium markets strengthened. Leica now has almost 100 monobrand stores worldwide. “We are convinced that our products ‘made in Germany’ meet the rapidly growing consumer need for high-quality, sustainable brands and that we are increasingly inspiring younger target groups for the world of Leica photography with new product categories,” says Matthias Harsch.
With the recent announcement of a strategic partnership in the field of camera development with Xiaomi, one of the world’s leading companies for smartphones, the company is strengthening its activities in future-oriented technology fields such as image processing, image quality tuning and computational imaging. The aim of the technology partnership between Leica and Xiaomi is to define new quality and performance standards in the field of smartphone photography.
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That should quiet the constant complainers that Leica is diversifying too much, that this will lead to their demise.
ReplyDeleteA while ago I read a comment that with the introduction of the Leica watches, they are steering too far away from their core business. It is myopic views like this that almost prevented the Leica from ever seeing the light of day. These individuals don't realize that before the advent of the Leica in 1915, Leica was primarily a microscope manufacturer. Diverting from their core business at that time was a strong argument and it is much to the credit of Ernst Leitz II that the Leica was actually marketed. Then, as now, Leica is obviously making the right decisions to keep the company growing.
DeleteI have seen no incidents where someone was forced to buy a Leica Watch or phone. But I have seen many self appointed experts that criticize Leica's business decisions.
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