In 2005, Leica Camera AG was virtually insolvent after catastrophically missing the digital photography revolution. Twenty years later, the German manufacturer reports record revenue of €596 million for fiscal 2024/25, driven by aggressive diversification into smartphone partnerships, projectors, and other optical products. The Leica transformation culminates this month with the M EV1, Leica’s first M-series camera to replace the iconic optical rangefinder with an electronic viewfinder – a decision sparking fierce debate about whether the 150-year-old brand has compromised its soul to survive. This article is based on reporting by German business publication manager magazin, which detailed both Leica’s corporate transformation and the controversial M EV1 announcement in its November 2025 issue. The M EV1 represents a watershed moment for a company that nearly ceased to exist in 2005. Austrian entrepreneur Andreas Kaufmann, who rescued Leica through his family holding company ACM when the brand faced insolvency, has spent two decades proving that calculated risk-taking beats clinging to tradition. The new camera eliminates the rangefinder that has defined M-series operation since the 1950s – a decision that would have been unthinkable during Leica’s darkest days but now exemplifies the company’s willingness to challenge sacred ground rather than rest on historical laurels. The new Leica M EV1. Image credit: Leica The 2005 crisis that nearly killed an icon In 2005, Leica stood on the brink of bankruptcy. The company had fundamentally misjudged the digital photography revolution, watching competitors rapidly develop digital systems while Leica remained committed to analog cameras. The brand...
Published By: CineD - Today