An olive coloured Leica M4, originally designed for the West German Army, sold at auction in 2009 for €87,600.

However, the relatively bulky and expensive M5 met with a cool reception, and sales did not live up to Leica's expectations.

In the year 1975, a special edition was made for Leica's 50th Anniversary, and in 1977 the company launched the updated M4-2, which was based on the M4's body, but with a streamlined production process that reduced manufacturing cost.

The M4-2 added a hot shoe and motor drive compatibility as standard, but removed the self-timer.

The M4-P finally ceased production in 1986[2] Starting in 1980, Leica also produced a simplified derivative of the M4-2 called the MD-2.