Analog Icon 'Leica Camera'... The Secret to Overcoming the Digital Storm [Hidden Industry Story]

A Camera Company Boasting 100 Years of History
Overcoming the Digital Era to Secure a Unique Position
Forming a Loyal Fanbase with Perfect Quality and Distinctive Sensibility

Leica's interchangeable lens camera model 'Leica CL'./Photo by Leica

[Asia Economy Reporter Kang Juhee] The luxury brand of cameras most admired by photographers. This is the phrase that accompanies the description of the German camera company 'Leica.' Founded over 100 years ago, Leica has established itself as a brand that other digital camera companies cannot rival, thanks to its unique color tones, classic design, and top-quality craftsmanship.

Leica is favored by world-renowned photographers and has also made a name for itself as the camera that captured historic moments, including Pulitzer Prize-winning works and award-winning photos in the photography magazine 'Life.' Its iconic red logo makes anyone who takes photos want to own a Leica. How did Leica earn its current reputation despite the challenges of the digital era?

◆ Invention of the 35mm Film Compact Camera, the Beginning of Innovation

Leica originated from the 'Optical Institute,' a microscope manufacturer established in 1849 near Frankfurt, Germany. At that time, Leica, which produced various optical devices such as telescopes and projectors, expanded into cameras when Ernst Leitz, a mechanic, took over the company in 1869.

Leitz, who had been interested in precision machinery like watches since childhood, inherited a company burdened with significant debt when he took over. However, his passion for optical machinery was exceptional. He actively invested in technology development, dramatically improving microscope performance and laying the foundation for producing precise camera lenses in the future.

Leica's camera history truly began when Leitz met Oskar Barnack, a company engineer. Cameras at that time were excessively heavy and bulky, and they recognized the need for a compact camera that could easily fit in a pocket and be quickly taken out.

Leica M2. / Photo by Leica

They dedicated themselves to developing a camera that made photography more convenient and, in 1914, invented the 'Ur-Leica,' a still camera using the 35mm film format. This was the world's first compact camera and set the standard for the film format still in use today. At a time when outdoor photography required carrying large plate cameras, this was a revolutionary change in the camera paradigm.

Leica subsequently released upgraded new models, and in 1954, finally introduced the 'M3,' known as the finest camera in Leica's history. The M3 was an RF camera with a bright viewfinder that changed frames according to the interchangeable lens, and it sold over 100,000 units in the first three years after its release, gaining great popularity. The M3 still holds a firm place as a film camera and is cherished by many enthusiasts.

◆ The Advent of the Digital Era... Countering with Cameras that Realize Analog

However, Leica could not resist the tide of the digital era. In the 1970s, major Japanese camera companies such as Canon and Nikon began releasing SLR (Single Lens Reflex) cameras equipped with electronic devices, dominating the global camera market. From the 1990s, digital cameras that did not require film emerged, and the film market came to be regarded almost as a relic of the past.

Leica was pushed to the brink of bankruptcy in the early 2000s and faced the threat of closing its doors. However, Leica had the advantage of an analog sensibility that digital technology could not replicate. At that time, Andreas Kaufmann, the current chairman of Leica, decided to create a 'digital camera that realizes analog' by emphasizing the brand values of 'the best' and 'emotion.'

Thanks to Kaufmann's bold investment, Leica introduced the first digital camera in the 'M series,' the 'M8,' in 2006, 52 years after the M3 was released, and turned a profit in 2011. Seeing Leica's growth potential, the large American private equity firm Blackstone acquired a 44% stake in Leica that same year.

100th Anniversary Commemorative Video Produced by Leica. Grand Prix Winner at the '2015 Cannes International Advertising Festival.' / Photo by Leica

◆ 'Quality First' Behind 100 Years of History

The reason Leica has been loved by consumers for a long time is that it has consistently designed and produced high-quality products. While incorporating the latest technology, Leica focused on preserving its unique sensibility.

Leica's lenses are known to be handcrafted from the selection of glass to production, undergoing rigorous inspection processes. Despite prices averaging around 10 million won per unit, consumers often say, "Leica's value cannot be measured by price."

Regarding Leica's history, Chairman Kaufmann expressed pride at the 100th-anniversary event in 2014, saying, "No brand has influenced the history of photography over the past 100 years as much as Leica. Leica has continuously provided photographers with the best equipment and excellent lenses. Thanks to this, we can celebrate this glorious 100th anniversary alongside legendary photographs from artists worldwide."