[Leica] What's Happening to Leica

[gregj.lorenzo at shaw.ca (GREG LORENZO)]

Howard Cummer writes: 
> 
> In this morning's South China Morning Post there was a Reuter's article 
> datelined Solms entitled " Cult camera maker Leica is forced to focus on 
> the digital world". The main points of the article were:
> 1. Leica is fighting for survival - unthinkable as that seems to devotees
> 2. They lost 3.4 million Euros on Sales of 119 million 
> Euros in 2003 - 2004
> 3. Loss for 2004 - 2005 is projected at 12.8 million Euros
> 4. Leica has cut production to match reduced demand.
> 5. It will ask to raise 22 million Euros at the extraordinary shareholders 
> meeting to be held at the end of the month where investors will be 
> asked to approve a capital restructuring which will dilute their interest 
> in the company.
> 6. The Leica R back will launch shortly with a price of 4,600 Euros and 
> Leica company spokesman Gero Furchheim says orders received will keep 
> production flat out for months.
> 
> Good news? Bad news? Time will tell.
> 
> Apologies if this is old news to Luggers with more up-to-date news 
> sources but thought it was interesting enough to pass along.

Hi Howard,

Lots of us are interested to see what happens with Leica at the end of the 
month so this is a good place to pass along any hard news. Someone else 
posted that Leica Camera and Minox have parted ways. I've always thought 
that Leica's purchase of Minox a decade back was a mistake and cost them a 
lot of money.

Regards,

Greg