Leica Camera AG and Panasonic have announced that the two companies have signed a comprehensive, strategic collaboration agreement. As a result of the agreement, Leica and Panasonic will work more closely to jointly develop new technologies under the name L2 Technology (L squared Technology).
The name L2 Technology is symbolic because it includes the ‘L’ from ‘Leica’ and ‘LUMIX.’ In their marketing activities going forward, each company will include L2 Technology. The branding will unify each company’s respective strengths, including in the development of new camera and lens products and next-generation software. The collaboration allows the two companies to jointly invest in new technologies for future Leica and LUMIX products. Going forward, Leica and LUMIX will utilize L2 Technology.
Leica writes, ‘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. They will continue to develop innovative L² Technology that will create a new imaging world.’
‘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,’ said Akira Toyoshima, CEO of Panasonic Entertainment & Communication Co., Ltd. ‘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 (left) (CEO Leica Camera AG) and Yosuke Yamane (right) (Executive Vice President Director, Imaging Business Unit)
‘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,’ said Matthias Harsch, CEO of Leica Camera AG.
Leica Camera AG and Panasonic have cooperated since August 2000, when the companies signed an agreement for lenses of digital, audio-visual equipment. In 2001, the cooperation expanded to include the digital camera sector. In 2018, Panasonic joined with Sigma and Leica to form the L-Mount Alliance. The L-mount standard was originally developed by Leica for its products before being expanded to include other manufacturers.