Leica has a long history of using Panasonic-developed cameras to round out its digital catalog.
The V-Lux 5 ($1,250) is the same camera as the Lumix DC-FZ1000 II, just with Leica aesthetics.
It's as good a camera as its twin, but it's up to you whether the Leica logo is worth a $350 price increase.
Red Dot, Flatter Buttons
The V-Lux 5 is the same basic size and shape as the FZ1000 II.
If you're not familiar, it's a bridge-style point-and-shoot with a 1-inch sensor and a 16x zoom lens.
It puts a zoom range that matches a 25-400mm full-frame lens in a body that's about the same size as a small SLR with a kit lens attached.
The Panasonic version of the camera has Lumix branding, but Leica replaces it with its own block logo, just above the lens barrel, as well as its red dot icon, also visible on the front.
Other changes are more subtle.
The V-Lux uses a different texture for its leatherette cover.
It's got a more striking diamond motif, and is just as comfortable to grip as the mottled wrap found on the FZ1000 II.
And the V-Lux's buttons are a bit larger, and flatter.
I think they're a little better than what you get with the FZ1000 II, but it's not a huge difference by any means.
Still, it's often the little things that separate a luxury edition of an item from the basic model.
Worth It?
For some, a few hundred dollars is a small price to pay to own a Leica.
If you feel this way, and you are in the market for a bridge camera, make no mistake that the V-Lux 5 is an excellent option.
It's just as good as its Panasonic twin.
See How We Test Digital Cameras
However, if you're looking for this type of camera, have V-Lux 5 money to spend, but aren't set on a Leica, you have other options.
Our favorite premium bridge camera is the $1,400 Sony RX10 III, which offers a bit more zoom power and an all-weather build.
There's also the RX10 IV, expensive at $1,700, but with the best autofocus performance you'll find in a camera of this type.
The Bottom Line
You'll pay more for Leica's V-Lux 5 camera than Panasonic's very similar FZ1000 II, but you might find the premium look and feel to be worth it.
