GoPro, Inc. (NASDAQ:GPRO) recently announced that its best-selling $399 flagship camera — HERO7 Black — has garnered a number of industry awards, highlighting the product’s state-of-the-art features. The firm’s present cash cow has received innovation awards from CES, CHIP, PCMag and Popular Science, which adds to a growing list of honors.
Notably, GoPro’s HERO7 Black had witnessed record levels of social engagement at launch and continues to achieve the highest post-launch sell-through of any new camera in the history of the company. HERO7 Black’s innovative features such as HyperSmooth stabilization, TimeWarp and SuperPhoto along with GoPro’s GP1 processor as well as better audio and live streaming capability, continues to attract customers, resulting in growing sales internationally. The camera also boasts a waterproof and rugged design, voice control, intuitive 2-inch touch screen and 3-times faster Wi-Fi transfer speeds.
Further, HERO7 Black has received Editor’s Choice Awards from publications around the world including PCMag, Mashable, Wired, Digital Photo, Kaden Hihyo and Xataka, and Fusion. Few days ago, GoPro announced its plan to move the production of most of its U.S.-bound cameras out of China by the summer of 2019 to counter the potential impact of any new tariffs in the wake of the ongoing American-Sino trade war. However, cameras bound for other countries will continue to be produced in China.
GoPro is taking steps to solidify its position in the burgeoning virtual reality (VR) market and remains optimistic about its prospects in end markets, primarily on account of enhanced marketing programs, expense control measures, improving channel management and upcoming interesting product launches. Its products seem well-positioned to dominate the trending VR market. GoPro has been focusing on offering its immersive imagery video experience to millions of people around the world through its GoPro Channel.
The company intends to transform itself from the ‘camera maker’ to ‘content maker’ and has taken significant steps to diversify into higher-margin businesses. It is developing various types of software solutions and hardware to curtail the complexity of managing, editing and sharing contents on different media platforms.
However, the stock has underperformed the industry with an average loss of 37.6% compared with a decline of 19.9% for the latter in the past three months. It is to be seen if such innovative product launches at disruptive prices coupled with growing public-attraction as well as industry accolades can help the company improve profitability.
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