How a 106-Year-Old Camera Brand Survived the Smartphone Era

In this milestone 50th episode of The Turnaround Podcast, Lucas and Luna examine how Leica Camera AG, founded in 1914 in Wetzlar, Germany, defied near-certain obsolescence when smartphone photography decimated the compact camera market. By the mid-2010s, Leica's camera sales had halved, and the company faced existential questions. But instead of retreating into nostalgia, Leica made a counterintuitive bet: partnering with Huawei in 2016 to co-engineer smartphone camera optics, then doubling down on its high-end rangefinder business, and finally opening its own Leica-branded retail stores in cities like Shanghai and New York. Today, Leica is profitable again, with 2025 revenues of roughly €500 million and a growing share of revenue from licensing and luxury-branded partnerships. Lucas and Luna walk through the three strategic moves that saved the company, the risks of betting on a Chinese smartphone maker at a time of geopolitical tension, and what any legacy business can learn from a 106-year-old brand that refused to become a museum piece. Includes a brief listener-supported segment that keeps the show ad-free. #LeicaCamera #CameraIndustry #SmartphonePhotography #Turnaround #LuxuryBrand #EuropeanBusiness #HuaweiPartnership #LicensingStrategy #RetailExpansion #LegacyCompany #BusinessSurvival #Restructuring #Recovery #Business #Finance #FexingoBusiness #BusinessPodcast #TurnaroundPodcast Keep every episode free: buymeacoffee.com/fexingo