The Leica D-Lux 5 and Panasonic LX5 are basically identical cameras manufactured by Panasonic in Japan. The Leica version has a more clean design (no grip and labels). The rest of the differences are: LX5 comes with Silkpix Studio (retails for $100), has one year warranty and costs $400. The D-Lux 5 comes with Adobe Lightroom (retails for around $260, currently there is a $100 rebate), has 2 years warranty, costs $800 and usually has better resale value. In addition to those differences, both cameras have different firmware. The menu is almost identical with some small exceptions, mainly the way some features are called and where they are positioned:
I did several JPG comparison between both cameras to see if I can spot any differences.





















