Camera-maker LEICA posts highest revenue in its 100-year history
German camera maker LEICA has announced a record-breaking revenue for the fiscal year (FY) 2024, the highest in its nearly 100-year history. The company reported a 14% growth, amounting to €554 million. This achievement beats the previous year's impressive revenue of €485 million. LEICA credits this success to its strategic focus on core business and expansion into new markets.
Standalone cameras drive LEICA's success
Despite diversifying into the Mobile Imaging sector with smartphone technology and partnerships, LEICA's main source of revenue continues to be its standalone cameras. The company noted that the LEICA Q3 was a major contributor to this year's revenue, although it didn't reveal how many units of this camera model were sold. This just goes on to show how traditional photography equipment still appeals in a digital world.
Commitment to innovation and expansion
LEICA CEO Matthias Harsch stressed the company's focus on innovation and expansion into new markets. He told PetaPixel that their 'Made in Germany' products cater to the increasing demand for a premium and sustainable brand experience. Harsch also spoke about LEICA's new foray into the Home Cinema segment and the launch of their LEICA LUX app for professional mobile photography with iPhone.
Acquisition of Fjorden and LUX app development
LEICA acquired Fjorden in December 2023 and integrated its team into its business by June this year. This team is now responsible for developing and supporting the LUX app. Harsch said this app expands their digital ecosystem and opens the door for an important business sector in the mobile segment, further enhancing the LEICA experience.
LEICA's global success and future plans
LEICA's success isn't limited to a particular region. The company witnessed its biggest growth in Asia with a 25% rise in revenue, while Europe (excluding Germany) witnessed over 10% growth. The last fiscal year also saw the opening of new LEICA stores in major cities like Paris, Mexico City, Amsterdam, and New York as well as four more locations in Germany. Today, LEICA operates 120 stores worldwide, including 12 in Germany.
