The 50mm f1.5 Summarit was introduced first in 1949 in LTM as a coated post war replacement for the uncoated Schneider Xenon 50mm f1.5. Except for some minor optical design tweaking, it is substantially identical in design, it is a modified double Gaussian formulation with four central cemented elements; it has a front singlet and a split rear element.

Since it has a total of 10 glass/air interfaces, the Xenon embodiment had been criticized for its excessive flare and the new coatings technology, developed during the war, improved performance markedly.

With the advent of Leica's "M" bodies it was made available in the "M" or Leica bayonet mount.

Until the 1959 advent in of the 50mm f1.4 Summilux in the Leica lens line it was the fastest lens that Leica manufactured.

Over 65,000 were produced from 1949 to 1961, 39,181 to satisfy screw mount demand. The remainder were "M" mount.

Some were assembled in Canada and appropriately marked.