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Monday September 25, 10:08 PMLeica Camera buys majority in Jenoptik's SinarFRANKFURT, Sept 25 (Reuters) - German camera maker Leica has bought a majority stake in Swiss camera maker Sinar AG and will continue its cooperation in digital photography with Japan's Matsushita , it said on Monday.Leica, which is recovering after narrowly escaping bankruptcy last year, declined to say how much it had paid eastern German technology group Jenoptik for the 51-percent share in Sinar. Leica Camera was slow to catch on to the fast-growing popularity of digital photography -- a major factor in its recent decline. But the camera maker said on Monday it had agreed to continue cooperating with Matsushita, which sells products under the Panasonic brand, in digital technology. Last year, compact cameras -- mainly those created under cooperation with Matsushita -- accounted for 16 percent of Leica's sales. Leica added that it would continue its technical cooperation with Sinar on digital camera backs, and would continue to develop the Sinar business and brand. "This is a first step on the strategic path towards growing the business of Leica Camera AG," it said. |
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