Japanese multinational conglomerate company, Panasonic Entertainment has joined ranks with Leica to develop new technologies and solutions for cameras. The collaboration-called L Square -uses the two ‘Ls' of the two companies, ‘Leica' and ‘Lumix'.
Under the new partnership, both companies will combine the technologies and know-how in the fields of new camera and lens products and next-generation software, and create technologies and solutions. Under the collaboration, both companies will also use Leica's optical and imaging technology and Panasonic's video and digital technology to deliver new solutions.
The two companies have also announced to jointly invest in new technologies that can be incorporated into camera and lens products. Further, they will incorporate jointly developed technologies into each other's Leica and LUMIX products to further enhance their product capabilities
“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 and Panasonic have been working together in some form or the other since August 2000. Initially, the companies had signed a cooperation agreement for lenses of digital, and audio-visual equipment.
In 2001, the decision was made to cooperate in the digital camera sector as well. Since then, the companies have steadily expanded their technological cooperation.