p.5 #1 · "Blackstone Could Sell Control Of Leica In €1 Billion Deal "
1bwana1 wrote:
I realize that I am in a unique greoraphic position, but I would not like to see lower prices if it reduced customer engagement and experiences offered by Leica's flagship stores.
I don't believe you can generalize this. This is probably available to less than 1% of the Leica clientele, even though the other 99% most likely contribute to it.
p.5 #2 · "Blackstone Could Sell Control Of Leica In €1 Billion Deal "
modlin wrote:
New owner sees potential to improve the bottom line, period. The bottom line could be improved from both ends. Increased sales+cut costs on labour (with less on materials). So don't know if this would be good for Leica and us the end customers. Fact is that lots of new capital originates in Asia and the Middle East not in fumbled EU.
Yes, but think about it this way. Regardless of where the 1 billion euros plus is coming from, why would any new management, hypothetically, want to change what's already working? Leica is successful precisely because of its brand, products, and loyal customers. No rational owner would want to alienate the very people who fund the entire business...
Sure, a "new owner" might look for ways to improve the bottom line, possibly by increasing sales or tightening operations. That could even mean improving things like customer support. But deliberately cutting into the core of what makes Leica Leica would be self-defeating. Protecting the brand and its customers is not idealism, it's basic business sense.
p.5 #3 · "Blackstone Could Sell Control Of Leica In €1 Billion Deal "
Fred Miranda wrote:
Sure, a "new owner" might look for ways to improve the bottom line, possibly by increasing sales or tightening operations. That could even mean improving things like customer support. But deliberately cutting into the core of what makes Leica Leica would be self-defeating. Protecting the brand and its customers is not idealism, it's basic business sense.
Fred, I have been involved in this type of business and I can tell you the new owner WILL look for ways to improve the bottom line and often, even though the intentions are good, it can be easily bungled. In the process some good people will leave or retire and that sets in motion the Peter principle.
Time and time again, solid advisors are ignored and the above can happen which erodes the core of the business from within and over time customers find alternatives.
I certainly hope this does not happen to Leica, but ALL cards are on the table IF majority control changes.
p.5 #4 · "Blackstone Could Sell Control Of Leica In €1 Billion Deal "
stgrove wrote:
Fred, I have been involved in this type of business and I can tell you the new owner WILL look for ways to improve the bottom line and often, even though the intentions are good, it can be easily bungled. In the process some good people will leave or retire and that sets in motion the Peter principle.
Time and time again, solid advisors are ignored and the above can happen which erodes the core of the business from within and over time customers find alternatives.
I certainly hope this does not happen to Leica, but ALL cards are on the table IF majority control changes....Show more →
I hear you, and I don't disagree. Greed is a very real human condition and, if left unchecked, it can ruin even great companies. My hope is simply that this won't be the case with Leica, and that any hypothetical new majority owner understands what they are actually buying. Leica's value isn't just in margins or balance sheets, but in its people, culture, engineering heritage, and its relationship with loyal customers. Sacrificing those for short term profit would ultimately be self defeating.
Time will tell, but preserving the brand and the trust it's built over decades should be seen as a requirement, not an obstacle, to long term success.
p.5 #6 · "Blackstone Could Sell Control Of Leica In €1 Billion Deal "
Fred Miranda wrote:
Even if the less desirable outcome happens and a Chinese investment group or another buyer gains a controlling stake in Leica, I don't think it would really change much. This is a successful business with a strong brand and loyal following, and no new owner is going to want to break what's clearly working. Leica's reputation and German engineering heritage are huge assets, and any sensible business entity would want to protect that, not mess it up.
I think it's extremely unlikely they would ever move the headquarters in any potential sale...the German engineering and roots are a major selling point worldwide. They could, however, shift some aspects of production, like Leica has already done in Portugal or other locations including China. I've heard that Leica rangefinders (the actual mechanical piece) is produced in Porto, Portugal currently. ...Show more →
I think Fred's description accurately captures what happens when a non-failing company is acquired, and Leica is non-failing. In the cases of a going concern, with no separate divisions to be sold off, the acquirers are more likely to innovate within the existing product line and strategy, for example by continuing to develop the M EV1 variation of M cameras, the SL and the Q lines, while maintaining the traditional M rangefinders. The Chinese acquisition of Lenovo is an example of this type of acquistion. All this would probably be good for Leica, adding new capital and a fresh set of eyes. But I do think that the traditional rangefinder is likely to become a smaller proportion of Leica sales and product over time, even while it continues to be well-supported, regardless of who owns the company. The company has already made clear its commitment to expanding its product line.
Leica is a small company. There are many Chinese billionaires, and some of them are probably photography enthusiasts.
p.5 #8 · "Blackstone Could Sell Control Of Leica In €1 Billion Deal "
While it's still too early to tell if the DJI/Hasselblad situation will stay positive in the long term, looking in that direction is something Leica would be wise to do.
Costs could get cut, making them more competitive while remaining a luxury brand. Support worldwide could be boosted, gaining confidence from a customer base that is now used to inept software and hardware fixes. Capital could be used for R&D to better position them well against much more sophisticated cameras.
I don't see how Leica stays viable long term without an injection like this. They have done no favors to themselves in the last 5 years, and it's hard to imagine their brand tarnishing more than it already has.
p.5 #9 · "Blackstone Could Sell Control Of Leica In €1 Billion Deal "
I wonder if LMVH would have interest in buying Leica.
They are strong in maintaining brand image and even deepening it for their brands. They are also willing to expand technologigcal expertise where it matters for their companies and they have the deep pockets to invest cash in what is necessary.
Make Leica the best of the best and ask the prices an ultimate luxury brand can command.
To me, photography is going the way mechanical watches have gone the last 30 years.
p.5 #10 · "Blackstone Could Sell Control Of Leica In €1 Billion Deal "
While the background reasons were different, the current Olympus/OM System transition from Olympus Corporation to Japan Industrial Partners in 2020 would be an example of a camera brand that is currently PE managed and appears to be stable with continued system development. I'm not that current with Olympus/OM System but I believe there was significant concern among Olympus users about the future of the system since the revelation of Olympus Corporation's ~2011 financial scandal and the resulting fallout.
p.5 #11 · "Blackstone Could Sell Control Of Leica In €1 Billion Deal "
bemei wrote:
VC's are usually not interested in the long term and we've seen what happens in that short term before they move on. Ain't usually pretty.
p.5 #12 · "Blackstone Could Sell Control Of Leica In €1 Billion Deal "
Knut. wrote:
I wonder if LMVH would have interest in buying Leica.
They are strong in maintaining brand image and even deepening it for their brands. They are also willing to expand technologigcal expertise where it matters for their companies and they have the deep pockets to invest cash in what is necessary.
Make Leica the best of the best and ask the prices an ultimate luxury brand can command.
To me, photography is going the way mechanical watches have gone the last 30 years.
That is not ever going to happen. Research Leica Camera's ownership history. The Kaufman family actually purchased Leica from Hermes, the luxury brand. Hermes is 20% owned by LMVH. Under that management Leica almost failed. LHVM is not going down that road again.
Cameras are not luxury watches, and luxury watches are not cameras despite Dr Kaufmann's personal attempt to make that so.
p.5 #15 · "Blackstone Could Sell Control Of Leica In €1 Billion Deal "
1bwana1 wrote:
Where do you get the idea that leica is invested in chip fabrication?
Perplexity:
Leica’s Chairman Dr. Andreas Kaufmann stated in late December 2025 that the company is actively developing its own image sensor again. This revelation came during an interview on the Leica Enthusiast Podcast hosted by Michel Birnbacher, celebrating Leica’s 100th anniversary, where he confirmed work had restarted around the time of the M11’s switch to Sony sensors in early 2022.[sonyalpharumors +3]
Statement Details
Kaufmann noted that sensor development typically takes about five years and that Leica had made significant progress, though specifics remain undisclosed. He referenced prior collaborations, like the European AMS sensor for the M10 (developed in the Netherlands, made in Austria and France), before moving to Sony for the M11. The podcast episode is dated December 24, 2025, on the official site, with news coverage emerging in early January 2026.[mirrorlessrumors +4]
Context and Timeline
Development reportedly began around the M11 launch (early 2022), aligning with a four-to-five-year cycle that could target upcoming models like the M12. Leica has historically customized or collaborated on sensors rather than fully fabricating them in-house, and this return emphasizes proprietary advancements. No exact prior mention of “next sensor chip” design involvement was found before this podcast.[notebookcheck +4]
p.5 #16 · "Blackstone Could Sell Control Of Leica In €1 Billion Deal "
Knut. wrote:
Perplexity:
Leica’s Chairman Dr. Andreas Kaufmann stated in late December 2025 that the company is actively developing its own image sensor again. This revelation came during an interview on the Leica Enthusiast Podcast hosted by Michel Birnbacher, celebrating Leica’s 100th anniversary, where he confirmed work had restarted around the time of the M11’s switch to Sony sensors in early 2022.[sonyalpharumors +3]
Statement Details
Kaufmann noted that sensor development typically takes about five years and that Leica had made significant progress, though specifics remain undisclosed. He referenced prior collaborations, like the European AMS sensor for the M10 (developed in the Netherlands, made in Austria and France), before moving to Sony for the M11. The podcast episode is dated December 24, 2025, on the official site, with news coverage emerging in early January 2026.[mirrorlessrumors +4]
Context and Timeline
Development reportedly began around the M11 launch (early 2022), aligning with a four-to-five-year cycle that could target upcoming models like the M12. Leica has historically customized or collaborated on sensors rather than fully fabricating them in-house, and this return emphasizes proprietary advancements. No exact prior mention of “next sensor chip” design involvement was found before this podcast.[notebookcheck +4]...Show more →
Yes, I read those interviews. In fact it was one of the interviews that had me predicting that the company ownership was in play back then.
Developing is a way different thing than fabrication. The guy Leica hired at the VP level to lead the sensor development program has been working at Leica for less than a Month now. He will work with an actual sensor fabrication company to specify, engineer and develop a sensor. Leica will not have any part in the actual fabrication. Leica never has. The previous pre-Sony chips were also fabricated by another company, not Leica as clearly stated in the article.
What this means is that in the future Leica again wants input into the sensors used in its cameras instead of buying slightly tweaked off the shelf sensors from Sony as it is doing now. It is one way that Leica intends to differentiate itself in the industry and add value to company equity.
Fabrication of a sensor takes huge capital investment. That is beyond Leica's capability both technically and financially. Chip fabrication issues will play no role in the current investment process.
p.5 #17 · "Blackstone Could Sell Control Of Leica In €1 Billion Deal "
1bwana1 wrote:
Yes, I read those interviews. In fact it was one of the interviews that had me predicting that the company ownership was in play back then.
Developing is a way different thing than fabrication. The guy Leica hired at the VP level to lead the sensor development program has been working at Leica for less than a Month now. He will work with an actual sensor fabrication company to specify, engineer and develop a sensor. Leica will not have any part in the actual fabrication. Leica never has. The previous pre-Sony chips were also fabricated by another company, not Leica as clearly stated in the article.
What this means is that in the future Leica again wants input into the sensors used in its cameras instead of buying slightly tweaked off the shelf sensors from Sony as it is doing now. It is one way that Leica intends to differentiate itself in the industry and add value to company equity.
Fabrication of a sensor takes huge capital investment. That is beyond Leica's capability both technically and financially. Chip fabrication issues will play no role in the current investment process.
I guess it is at the level that Sigma made the foveon sensor. It could well go deep into the manufacturing intricacies and nevertheless be produced in cooperation by another company.
p.5 #18 · "Blackstone Could Sell Control Of Leica In €1 Billion Deal "
Knut. wrote:
I guess it is at the level that Sigma made the foveon sensor. It could well go deep into the manufacturing intricacies and nevertheless be produced in cooperation by another company.
We have exactly zero information about the level of Leica's involvement in the design of a new sensor. How do you equate this to Sigma's work on the Faveon sensor? Do you know the details of either? What are the sources. That is pure speculation at this point.
What we do know is who Leica has hired to do that work. We know his name. We know his work history. We know his position and title. We know that he only started this Month. All of this can be verified through Leica itself, and sources like LinkedIn.
Again, that is way different than fabrication. What is actually happening is that Leica wants to differentiate itself from other brands that use open to buy Sony sensors. This will have no impact on whether a Chinese firm can buy/invest in Leica which is the point I was addressing.
p.5 #19 · "Blackstone Could Sell Control Of Leica In €1 Billion Deal "
Now if new ownership could deliver a Q4 with a faster read-out 45mp sensor (I'll take 60mp, but I don't really need it), decent video capabilities with audio and with a fast 35mm f/2 APO prime at the front... then I might be all for it! :-)
p.5 #20 · "Blackstone Could Sell Control Of Leica In €1 Billion Deal "
patotts wrote:
Now if new ownership could deliver a Q4 with a faster read-out 45mp sensor (I'll take 60mp, but I don't really need it), decent video capabilities with audio and with a fast 35mm f/2 APO prime at the front... then I might be all for it! :-)
It is known that Leica has registered and will soon announce a new L-mount camera with a faster (but still not very fast) 44.3mpx sensor. I think it is the same sensor used in the 40 fps capable Lumix S1RII. It will provide a lower price point, and smaller form factor in the L-Mount line. Maybe if this camera is successful they will follow with a similar strategy in the Q series. The L-Mount camera is known and immentant, a Q equivalent is of course entirely a speculation.
