Leica M9 vs Panasonic FZ200

The Leica M9 and the Panasonic Lumix DMC-FZ200 are two digital cameras that were revealed to the public, respectively, in September 2009 and July 2012. The M9 is a rangefinder-focusing mirrorless camera, while the FZ200 is a fixed lens compact. The cameras are based on a full frame (M9) and a 1/2.3-inch (FZ200) sensor. The Leica has a resolution of 18.1 megapixels, whereas the Panasonic provides 12 MP.

Below is an overview of the main specs of the two cameras as a starting point for the comparison.

Headline Specifications

Leica M9		Panasonic FZ200
Rangefinder camera		Fixed lens compact camera
Leica M mount lenses		25-600mm f/2.8
18.1 MP – Full Frame sensor		12 MP – 1/2.3" sensor
no Video		1080/60p Video
ISO 80-2,500		ISO 100-3,200 (100 - 6,400)
Optical viewfinder		Electronic viewfinder (1312k dots)
2.5" LCD – 230k dots		3.0" LCD – 460k dots
Fixed screen (not touch-sensitive)		Swivel screen (not touch-sensitive)
2 shutter flaps per second		12 shutter flaps per second
550 shots per battery charge		540 shots per battery charge
139 x 80 x 37 mm, 585 g		125 x 87 x 110 mm, 588 g

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Going beyond this snapshot of core features and characteristics, what are the differences between the Leica M9 and the Panasonic Lumix DMC-FZ200? Which one should you buy? Read on to find out how these two cameras compare with respect to their body size, their imaging sensors, their shooting features, their input-output connections, and their reception by expert reviewers.

Body comparison

The side-by-side display below illustrates the physical size and weight of the Leica M9 and the Panasonic FZ200. The two cameras are presented according to their relative size. Three consecutive views from the front, the top, and the rear side are shown. All width, height and depth dimensions are rounded to the nearest millimeter.

The M9 can be obtained in two different colors (black, silver), while the FZ200 is only available in black.

If the front view area (width x height) of the cameras is taken as an aggregate measure of their size, the Panasonic FZ200 is somewhat smaller (2 percent) than the Leica M9. In this context, it is worth noting that neither the M9 nor the FZ200 are weather-sealed.

The above size and weight comparisons are to some extent incomplete and possibly misleading, as the FZ200 has a lens built in, whereas the M9 is an interchangeable lens camera that requires a separate lens. Attaching the latter will add extra weight and bulk to the setup. You can compare the optics available for the M9 and their specifications in the Leica M Lens Catalog.

Concerning battery life, the M9 gets 550 shots out of its Leica BLI-312 battery, while the FZ200 can take 540 images on a single charge of its Panasonic DMW-BLC12 power pack.

The table below summarizes the key physical specs of the two cameras alongside a broader set of comparators. In case you want to display and compare another camera duo, you can use the CAM-parator app to select your camera combination among a large number of options.

Body Specifications

		Camera Model	Camera Width	Camera Height	Camera Depth	Camera Weight	Battery Life	Weather Sealing	Camera Launch	Launch Price	Street Price
1.		Leica M9	139 mm	80 mm	37 mm	585 g	550	n	Sep 2009	US$ 7 999	ebay.com
2.		Panasonic FZ200	125 mm	87 mm	110 mm	588 g	540	n	Jul 2012	US$ 599	ebay.com
3.		Canon SX50	123 mm	87 mm	106 mm	595 g	315	n	Sep 2012	US$ 429	ebay.com
4.		Canon SX60	128 mm	93 mm	114 mm	650 g	340	n	Sep 2014	US$ 549	ebay.com
5.		Canon T1i	129 mm	98 mm	62 mm	520 g	400	n	Mar 2009	US$ 799	ebay.com
6.		Canon T2i	129 mm	98 mm	62 mm	530 g	440	n	Feb 2010	US$ 699	ebay.com
7.		Leica M Typ 240	139 mm	80 mm	42 mm	680 g	500	Y	Sep 2012	US$ 6 949	ebay.com
8.		Leica M8	139 mm	80 mm	37 mm	591 g	550	n	Sep 2006	US$ 5 499	ebay.com
9.		Leica M10	139 mm	80 mm	39 mm	660 g	210	Y	Jan 2017	US$ 6 599	ebay.com
10.		Leica M10-P	139 mm	80 mm	39 mm	660 g	210	Y	Aug 2018	US$ 7 999	ebay.com
11.		Leica M10-R	139 mm	80 mm	39 mm	660 g	210	Y	Jul 2020	US$ 8 299	ebay.com
12.		Leica M11	139 mm	80 mm	39 mm	640 g	700	Y	Jan 2022	US$ 8 999	amazon.com
13.		Leica X Vario	133 mm	73 mm	95 mm	680 g	450	n	Jun 2013	US$ 2 849	ebay.com
14.		Leica X Typ 113	133 mm	73 mm	78 mm	486 g	350	n	Sep 2014	US$ 2 299	ebay.com
15.		Panasonic FZ100	124 mm	82 mm	92 mm	540 g	410	n	Jul 2010	US$ 499	ebay.com
16.		Panasonic FZ150	124 mm	82 mm	92 mm	528 g	410	n	Aug 2011	US$ 499	ebay.com
17.		Panasonic FZ300	132 mm	92 mm	117 mm	691 g	380	Y	Jul 2015	US$ 599	amazon.com
Note: Measurements and pricing do not include easily detachable parts, such as add-on or interchangeable lenses or optional viewfinders.
Convert to Imperial

Any camera decision will naturally be influenced heavily by the price. The manufacturer’s suggested retail prices give an idea on the placement of the camera in the maker’s lineup and the broader market. The FZ200 was launched at a lower price than the M9, despite having a lens built in. Normally, street prices remain initially close to the MSRP, but after a couple of months, the first discounts appear. Later in the product cycle and, in particular, when the replacement model is about to appear, further discounting and stock clearance sales often push the camera price considerably down.

Sensor comparison

The size of the imaging sensor is a crucial determinant of image quality. All other things equal, a large sensor will have larger individual pixel-units that offer better low-light sensitivity, wider dynamic range, and richer color-depth than smaller pixels in a sensor of the same technological generation. Furthermore, a large sensor camera will give the photographer more possibilities to use shallow depth-of-field in order to isolate a subject from the background. On the downside, larger sensors tend to be more expensive and lead to bigger and heavier cameras and lenses.

Of the two cameras under consideration, the Leica M9 features a full frame sensor and the Panasonic FZ200 a 1/2.3-inch sensor. The sensor area in the FZ200 is 97 percent smaller. As a result of these sensor size differences, the cameras have a format factor of, respectively, 1.0 and 5.6. The sensor in the M9 has a native 3:2 aspect ratio, while the one in the FZ200 offers a 4:3 aspect.

With 18.1MP, the M9 offers a higher resolution than the FZ200 (12MP), but the M9 nevertheless has larger individual pixels (pixel pitch of 6.91μm versus 1.53μm for the FZ200) due to its larger sensor. However, the FZ200 is a much more recent model (by 2 years and 10 months) than the M9, and its sensor will have benefitted from technological advances during this time that further enhance the light gathering capacity of its pixels. Coming back to sensor resolution, it should be mentioned that neither of the two cameras has an anti-alias filter installed, so they are able to capture all the detail the sensor resolves.

The resolution advantage of the Leica M9 implies greater flexibility for cropping images or the possibility to print larger pictures. The maximum print size of the M9 for good quality output (200 dots per inch) amounts to 26.1 x 17.4 inches or 66.2 x 44.1 cm, for very good quality (250 dpi) 20.8 x 13.9 inches or 53 x 35.3 cm, and for excellent quality (300 dpi) 17.4 x 11.6 inches or 44.1 x 29.4 cm. The corresponding values for the Panasonic FZ200 are 20 x 15 inches or 50.8 x 38.1 cm for good quality, 16 x 12 inches or 40.6 x 30.5 cm for very good quality, and 13.3 x 10 inches or 33.9 x 25.4 cm for excellent quality prints.

The Leica M9 has a native sensitivity range from ISO 80 to ISO 2500. The corresponding ISO settings for the Panasonic Lumix DMC-FZ200 are ISO 100 to ISO 3200, with the possibility to increase the ISO range to 100-6400.

In terms of underlying technology, the M9 is build around a CCD sensor, while the FZ200 uses a BSI-CMOS imager. Both cameras use a Bayer filter for capturing RGB colors on a square grid of photosensors. This arrangement is found in most digital cameras.

Consistent information on actual sensor performance is available from DXO Mark for many cameras. This service is based on lab testing and assigns an overall score to each camera sensor, as well as ratings for dynamic range ("DXO Landscape"), color depth ("DXO Portrait"), and low-light sensitivity ("DXO Sports"). Of the two cameras under review, the M9 provides substantially higher image quality than the FZ200, with an overall score that is 32 points higher. This advantage is based on 3.4 bits higher color depth, 0.9 EV in additional dynamic range, and 3 stops in additional low light sensitivity. The adjacent table reports on the physical sensor characteristics and the outcomes of the DXO sensor quality tests for a sample of comparator-cameras.

Sensor Characteristics

		Camera Model	Sensor Class	Resolution (MP)	Horiz. Pixels	Vert. Pixels	Video Format	DXO Portrait	DXO Landscape	DXO Sports	DXO Overall
1.		Leica M9	Full Frame	18.1	5212	3472	none	22.5	11.7	884	69
2.		Panasonic FZ200	1/2.3	12.0	4000	3000	1080/60p	19.1	10.8	114	37
3.		Canon SX50	1/2.3	12.0	4000	3000	1080/24p	20.3	11.2	179	47
4.		Canon SX60	1/2.3	14.2	4608	3072	1080/60p	19.2	10.8	127	39
5.		Canon T1i	APS-C	15.1	4752	3168	1080/20p	21.7	11.5	663	63
6.		Canon T2i	APS-C	17.9	5184	3456	1080/30p	22.1	11.5	784	66
7.		Leica M Typ 240	Full Frame	23.7	5952	3976	1080/25p	24.0	13.3	1860	84
8.		Leica M8	APS-H	10.4	3936	2630	none	21.1	11.3	663	59
9.		Leica M10	Full Frame	23.8	5952	3992	none	24.4	13.2	2133	86
10.		Leica M10-P	Full Frame	23.8	5952	3992	none	25.1	14.1	2739	93
11.		Leica M10-R	Full Frame	40.9	7864	5200	none	25.3	14.3	2924	95
12.		Leica M11	Full Frame	60.3	9528	6328	none	26.3	14.8	3376	100
13.		Leica X Vario	APS-C	16.1	4928	3272	1080/30p	23.4	12.7	1320	78
14.		Leica X Typ 113	APS-C	16.1	4928	3264	1080/30p	23.6	12.8	1491	78
15.		Panasonic FZ100	1/2.3	14.0	4320	3240	1080/60i	19.4	10.7	306	39
16.		Panasonic FZ150	1/2.3	12.0	4000	3000	1080/60p	19.4	10.9	132	40
17.		Panasonic FZ300	1/2.3	12.0	4000	3000	4K/30p	19.3	11.0	97	38
Note: DXO values in italics represent estimates based on sensor size and age.

Many modern cameras are not only capable of taking still images, but can also record movies. The FZ200 indeed provides for movie recording, while the M9 does not. The highest resolution format that the FZ200 can use is 1080/60p.

Feature comparison

Apart from body and sensor, cameras can and do differ across a range of features. For example, the FZ200 has an electronic viewfinder (1312k dots), while the M9 has an optical one. Both systems have their advantages, with the electronic viewfinder making it possible to project supplementary shooting information into the framing view, whereas the optical viewfinder offers lag-free viewing and a very clear framing image. The viewfinders of both cameras offer the same field of view (100%), but the viewfinder of the M9 has a higher magnification than the one of the FZ200 (0.68x vs 0.46x), so that the size of the image transmitted appears closer to the size seen with the naked human eye. The adjacent table lists some of the other core features of the Leica M9 and Panasonic FZ200 along with similar information for a selection of comparators.

Core Features

		Camera Model	Viewfinder (Type or 000 dots)	Control Panel (yes/no)	LCD Specifications (inch/000 dots)	LCD Attach- ment	Touch Screen (yes/no)	Max Shutter Speed *	Max Shutter Flaps *	Built-in Flash (yes/no)	Built-in Image Stab
1.		Leica M9	optical	n	2.5 / 230	fixed	n	1/4000s	2.0/s	n	n
2.		Panasonic FZ200	1312	n	3.0 / 460	swivel	n	1/4000s	12.0/s	Y	Y
3.		Canon SX50	202	n	3.0 / 461	swivel	n	1/2000s	2.2/s	Y	Y
4.		Canon SX60	922	n	3.0 / 922	swivel	n	1/2000s	6.4/s	Y	Y
5.		Canon T1i	optical	n	3.0 / 920	fixed	n	1/4000s	3.4/s	Y	n
6.		Canon T2i	optical	n	3.0 / 1040	fixed	n	1/4000s	3.7/s	Y	n
7.		Leica M Typ 240	optical	n	3.0 / 920	fixed	n	1/4000s	3.0/s	n	n
8.		Leica M8	optical	n	2.5 / 230	fixed	n	1/8000s	2.0/s	n	n
9.		Leica M10	optical	n	3.0 / 1037	fixed	n	1/4000s	5.0/s	n	n
10.		Leica M10-P	optical	n	3.0 / 1037	fixed	Y	1/4000s	5.0/s	n	n
11.		Leica M10-R	optical	n	3.0 / 1037	fixed	Y	1/4000s	4.5/s	n	n
12.		Leica M11	optical	n	3.0 / 2333	fixed	Y	1/4000s	4.5/s	n	n
13.		Leica X Vario	optional	n	3.0 / 920	fixed	n	1/2000s	5.0/s	Y	n
14.		Leica X Typ 113	optional	n	3.0 / 920	fixed	n	1/2000s	5.0/s	Y	n
15.		Panasonic FZ100	202	n	3.0 / 460	swivel	n	1/2000s	11.0/s	Y	Y
16.		Panasonic FZ150	202	n	3.0 / 460	swivel	n	1/2000s	12.0/s	Y	Y
17.		Panasonic FZ300	1440	n	3.0 / 1040	swivel	Y	1/4000s	12.0/s	Y	Y
Note: *) Information refers to the mechanical shutter, unless the camera only has an electronic one.

One difference between the cameras concerns the presence of an on-board flash. The FZ200 has one, while the M9 does not. While the built-in flash of the FZ200 is not very powerful, it can at times be useful as a fill-in light.

Concerning the storage of imaging data, both the M9 and the FZ200 write their files to SDXC cards. The FZ200 supports UHS-I cards (Ultra High Speed data transfer of up to 104 MB/s), while the M9 cannot take advantage of Ultra High Speed SD cards.

Connectivity comparison

For some imaging applications, the extent to which a camera can communicate with its environment can be an important aspect in the camera decision process. The table below provides an overview of the connectivity of the Leica M9 and Panasonic Lumix DMC-FZ200 and, in particular, the interfaces the cameras (and selected comparators) provide for accessory control and data transfer.

Input-Output Connections

		Camera Model	Hotshoe Port	Internal Mic / Speaker	Microphone Port	Headphone Port	HDMI Port	USB Port	WiFi Support	NFC Support	Bluetooth Support
1.		Leica M9	Y	- / -	-	-	-	2.0	-	-	-
2.		Panasonic FZ200	Y	stereo / mono	Y	-	mini	2.0	-	-	-
3.		Canon SX50	Y	stereo / mono	-	-	mini	2.0	-	-	-
4.		Canon SX60	Y	stereo / mono	Y	-	mini	2.0	Y	Y	-
5.		Canon T1i	Y	mono / mono	-	-	mini	2.0	-	-	-
6.		Canon T2i	Y	stereo / -	Y	-	mini	2.0	-	-	-
7.		Leica M Typ 240	Y	stereo / mono	-	-	-	2.0	-	-	-
8.		Leica M8	Y	- / -	-	-	-	2.0	-	-	-
9.		Leica M10	Y	- / -	-	-	-	-	Y	-	-
10.		Leica M10-P	Y	- / -	-	-	-	-	Y	-	-
11.		Leica M10-R	Y	- / -	-	-	-	-	Y	-	-
12.		Leica M11	Y	- / -	-	-	-	3.2	Y	-	Y
13.		Leica X Vario	Y	stereo / mono	-	-	mini	2.0	-	-	-
14.		Leica X Typ 113	Y	stereo / mono	-	-	mini	2.0	-	-	-
15.		Panasonic FZ100	Y	stereo / mono	-	-	mini	2.0	-	-	-
16.		Panasonic FZ150	Y	stereo / -	-	-	mini	2.0	-	-	-
17.		Panasonic FZ300	Y	stereo / mono	Y	-	mini	2.0	Y	-	-

Both the M9 and the FZ200 have been discontinued, but can regularly be found used on ebay. The M9 was replaced by the Leica M Typ 240, while the FZ200 was followed by the Panasonic FZ300. Further information on the features and operation of the M9 and FZ200 can be found, respectively, in the Leica M9 Manual (free pdf) or the online Panasonic FZ200 Manual.

Review summary

So what conclusions can be drawn? Is the Leica M9 better than the Panasonic FZ200 or vice versa? A synthesis of the relative strong points of each of the models is listed below.

Advantages of the Leica M9:

• More detail: Offers more megapixels (18.1 vs 12MP) with a 25% higher linear resolution.
• Better image quality: Scores substantially higher (32 points) in the DXO overall assessment.
• Richer colors: Generates images with noticeably better colors (3.4 bits more color depth).
• More dynamic range: Captures a larger spectrum of light and dark details (0.9 EV of extra DR).
• Better low-light sensitivity: Requires less light for good images (3 stops ISO advantage).
• Brighter framing: Features an optical viewfinder for clear, lag-free composition.
• Larger viewfinder image: Features a viewfinder with a higher magnification (0.68x vs 0.46x).
• More flexible: Accepts interchangeable lenses, so that lens characteristics can be altered.
• More prestigious: Has the Leica luxury appeal, which ensures a high resale price.
• More heavily discounted: Has been available for much longer (launched in September 2009).

Arguments in favor of the Panasonic Lumix DMC-FZ200:

• Broader imaging potential: Can capture not only stills but also 1080/60p video.
• More framing info: Has an electronic viewfinder that displays shooting data.
• Larger screen: Has a bigger rear LCD (3.0" vs 2.5") for image review and settings control.
• More detailed LCD: Has a higher resolution rear screen (460k vs 230k dots).
• More flexible LCD: Has a swivel screen for odd-angle shots in portrait or landscape orientation.
• More selfie-friendly: Has an articulated screen that can be turned to be front-facing.
• Faster burst: Shoots at higher frequency (12 vs 2 flaps/sec) to capture the decisive moment.
• Ready to shoot: Has an integrated lens, whereas the M9 necessitates an extra lens.
• Sharper images: Has stabilization technology built-in to reduce the impact of hand-shake.
• Easier fill-in: Has a small integrated flash to brighten shadows of backlit subjects.
• Faster buffer clearing: Has an SD card interface that supports the UHS-I standard.
• More affordable: Was introduced at a lower price, despite coming with a built-in lens.
• More modern: Reflects 2 years and 10 months of technical progress since the M9 launch.

If the count of individual advantages (bullet points above) is taken as a guide, the FZ200 emerges as the winner of the match-up (13 : 10 points). However, the relevance of individual strengths will vary across photographers, so that you might want to apply your own weighing scheme to the summary points when reflecting and deciding on a new camera. A professional wedding photographer will view the differences between cameras in a way that diverges from the perspective of a travel photog, and a person interested in cityscapes has distinct needs from a macro shooter. Hence, the decision which camera is best and worth buying is often a very personal one.

In any case, while the comparison of the spec-sheets of cameras can offer a general idea of their imaging potential, it remains incomplete and does no justice, for example, to the way the M9 or the FZ200 perform in practice. User reviews, such as those found at amazon, can sometimes inform about these issues, but such feedback is often incomplete, inconsistent, and biased.

Expert reviews

This is why expert reviews are important. The following table reports the overall ratings of the cameras as published by some of the major camera review sites (amateurphotographer [AP], cameralabs [CL], digitalcameraworld [DCW], dpreview [DPR], ephotozine [EPZ], photographyblog [PB]). As can be seen, the professional reviewers agree in many cases on the quality of different cameras, but sometimes their assessments diverge, reinforcing the earlier point that a camera decision is often a very personal choice.

Expert Camera Reviews

		Camera   Model	AP   score	CL   score	DCW   score	DPR   score	EPZ   score	PB   score	Camera Launch	Launch Price	Street Price
1.		Leica M9	..	..	..	..	4.5/5	..	Sep 2009	US$ 7 999	ebay.com
2.		Panasonic FZ200	3/5	+ +	..	80/100	4.5/5	4.5/5	Jul 2012	US$ 599	ebay.com
3.		Canon SX50	3/5	+ +	..	72/100	4.5/5	4.5/5	Sep 2012	US$ 429	ebay.com
4.		Canon SX60	3/5	+ +	..	75/100	4/5	4.5/5	Sep 2014	US$ 549	ebay.com
5.		Canon T1i	..	+ +	..	74/100	4.5/5	4.5/5	Mar 2009	US$ 799	ebay.com
6.		Canon T2i	..	+ +	..	77/100	4/5	4.5/5	Feb 2010	US$ 699	ebay.com
7.		Leica M Typ 240	4/5	..	..	..	4/5	..	Sep 2012	US$ 6 949	ebay.com
8.		Leica M8	..	..	..	+ +	..	..	Sep 2006	US$ 5 499	ebay.com
9.		Leica M10	4.5/5	..	..	..	4/5	4.5/5	Jan 2017	US$ 6 599	ebay.com
10.		Leica M10-P	..	..	3/5	..	..	4/5	Aug 2018	US$ 7 999	ebay.com
11.		Leica M10-R	4.5/5	..	4/5	..	..	4/5	Jul 2020	US$ 8 299	ebay.com
12.		Leica M11	4.5/5	..	4.5/5	..	4.5/5	4.5/5	Jan 2022	US$ 8 999	amazon.com
13.		Leica X Vario	3/5	..	..	..	4/5	4/5	Jun 2013	US$ 2 849	ebay.com
14.		Leica X Typ 113	3.5/5	..	..	..	3.5/5	4/5	Sep 2014	US$ 2 299	ebay.com
15.		Panasonic FZ100	..	+	..	..	4.5/5	4.5/5	Jul 2010	US$ 499	ebay.com
16.		Panasonic FZ150	3/5	+ +	..	76/100	4/5	4.5/5	Aug 2011	US$ 499	ebay.com
17.		Panasonic FZ300	..	+ +	..	..	4.5/5	4.5/5	Jul 2015	US$ 599	amazon.com
Note: (+ +) highly recommended; (+) recommended; (o) reviewed; (..) not available.

The above review scores should be interpreted with care, though. The ratings were established in reference to similarly priced cameras that were available in the market at the time of the review. A score, therefore, has to be seen in close connection to the price and market introduction time of the camera, and rating-comparisons among cameras that span long time periods or concern very differently equipped models make little sense. It should also be noted that some of the review sites have over time altered the way they render their verdicts.

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Other camera comparisons

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