GoPro was the first company to popularize sports cameras for extreme sports, but over time the competition has launched increasingly competitive devices for half the price, forcing the company to abandon the "low" range of its cameras. to focus on the high end, offering benefits that were not within the reach of Chinese brands, but it seems that this strategy has not gone quite well for GoPro, since after presenting the financial results for the third quarter of 2016, the company has seen how its shares they are down 23%, the worst drop for the company since its inception.
The problem is that these figures have caught all analysts by surprise who had predicted a drop in revenue but not as alarming as those presented by GoPro yesterday. GoPro yesterday announced revenue of $ 240 million, 40% less than in the same period last year, where the income was 400 million dollars.
A few weeks ago GoPro introduced the new generation of GoPro cameras together with the Karma drone, uus devices that have not been able to enter the financial results but that according to the company are having an excellent adoption by users. Nick Woodman, head of the company, assures that by 2017 they hope to recover the growth that they have been losing in recent years due to Asian competition.
It's still too early to say whether the company's commitment to drones will pay off in the short or long term, what is clear is that it will be very difficult to be the king of action cameras again, so in addition to the gifts, he will have to reinvent himself if he finally does not want to end up closing the door.