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#1988 2008-08-15 14:13 GMT

Friday 15th August 2008
Chris Cheesman

Leica's global sales fell 38% for the three months to 30 June compared to the same quarter last year. But sales of the M8 camera are 'holding up' in the UK.

'The strong decline is due to reduced sales of the M-system and of digital compact cameras, resulting from delays in the introduction of new products,' states Leica Camera AG in a statement.

Leica recorded a net loss of €3,850,000, partly caused by a 35% rise in research and development spending, adds the German-based firm.

However, sales of the M8 digital rangefinder camera are holding up in the UK thanks to a £400 trade-in promotion, said Leica Camera Ltd's managing director David Bell.

He believes that M8 sales have also been helped by photographers seeking a 'smaller and lighter' alternative to a professional DSLR.

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