The legendary company was formed in 1920 by Paul Franke and Reinhold Heidecke when they launched the Werkstatt fur Feinmechanik und Optik, Franke & Heidecke workshop. The company developed and successfully marketed the Rolleiflex brand and became a major player in the medium format camera market.

When digital took over, Franke & Heidecke developed the 6x6 body it marketed under the Rolleiflex Hy6 name, and licensed to Leaf and Sinar, which respectively sold it under the AFi and Hy6 brands.

On 01 July, the company told its employees it would close down its operations. According to the German newspaper Spiegel, only 15 employees out of the 121 working for Franke & Heidecke were kept in their positions to work on last orders and customer service.

However, the lights will be turned off one last time on 30 September, according to the German newspaper, bringing to an end almost 90 years of photographic history.

Meanwhile, Leaf has withdrawn its Leaf AFi camera system, which used to be manufactured by Franke & Heidecke, from its product offering on its website, confirming BJP's reports that the system would be shelved, especially after Phase One's acquisition of Leaf's assets.