Leica Camera Achieves Record 14% Revenue Growth in FY 2023/2024

Leica Camera Achieves Record 14% Revenue Growth in FY 2023/2024

November 20, 2024 Catherine Williams - Chief Editor Tech

Leica Camera Group Reports Record Revenue for Fiscal Year 2023/2024

Teaneck, N.J. – Nov. 20, 2024

Leica Camera Group achieved a record revenue of MEUR 554 for the fiscal year 2023/2024, a 14% increase from MEUR 485 in the previous year. This performance marks the best in the company’s 100-year history, reflecting sustained growth and successful strategic objectives.

The Photography segment remains the main driver of Leica’s success. Strong demand for innovative products and the expansion of Leica’s global sales network contributed to this growth. Additionally, the Mobile Imaging segment, focusing on smartphone products, showed significant gains.

CEO Statement

Matthias Harsch, CEO of Leica Camera AG, stated, “Our products ‘Made in Germany’ meet the growing demands for a premium brand experience. This fiscal year, we will continue to pursue innovations to strengthen the Leica brand and reach new customer groups.” He highlighted the growth in their Home Cinema segment and the launch of the new Leica LUX app for mobile photography.

Regional Growth

Revenue growth was strong across all regions. Asia saw the highest increase at 25%, followed by over 10% growth in Europe (excluding Germany). Leica opened new stores in Paris, Mexico City, Amsterdam, and New York, totaling 120 global monobrand stores, including 12 in Germany.

Key Products

The company’s success this year was driven by key products such as the Leica Q3, known for its compact full-frame design, and the Leica M11-P, the first camera to feature ‘Content Credentials’ for verifying digital images. The Leica M11 Monochrom, with a black-and-white sensor, also contributed to sales.

Expansion in Mobile Imaging

Leica is broadening its business with the acquisition of Fjorden Electra AS, a Norwegian app developer, and the joint development of the Leica LUX app. These initiatives, along with a partnership with Xiaomi, strengthen Leica’s presence in mobile imaging.

Upcoming Anniversary Celebration

In 2025, Leica will celebrate the 100th anniversary of the Leica I, the first mass-produced 35mm camera. The company will host a series of events worldwide, including activations in New York, to engage photography enthusiasts and commemorate this milestone.

For more information, visit Leica Camera’s website.