Panasonic and Leica have announced a new agreement for a comprehensive business alliance and work even more closely together to develop new technologies under the name L2 Technology (L squared Technology).
The L2 stands for the L of Leica and Lumix and symbolizes the joint business and marketing activities going forward. The two companies say that L2 will unify the strengths of the two brands and will see both combine knowledge together to produce new cameras, lenses, and “next-generation” software.
“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,” the two companies say.
“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,” Matthias Harsch, CEO of Leica Camera AG, says.
“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. 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,” Akira Toyoshima, CEO of Panasonic Entertainment & Communication Co. Ltd., says.
Leica and Panasonic have worked together to produce cameras and lenses since the year 2000.
Initially, the companies had signed a cooperation agreement for lenses of digital, audio-visual equipment, and in 2001 the decision was made to cooperate in the digital camera sector as well. Since then, the companies have steadily expanded technological cooperation.
In 2018, the two companies joined with Sigma to create the L-Mount Alliance, which the three describe as an unprecedented type of cooperation that enables Panasonic, Sigma and, since 2021, Ernst Leitz Wetzlar GmbH to use the L-mount standard developed by Leica for their own developments and thus also offer cameras as well as optics with this lens mount.