GoPro to enter the drone market
GoPro Inc. is said to be expanding its range to embrace the growing drone market, according to reports.
The Wall Street Journal claims that the popular action camera maker will “start selling multi-rotor helicopters equipped with high definition cameras late next year, aiming for a price tag of between $500 and $1000.”
The drone offering will pit the company against products from drone industry heavyweights including DJI, Parrot and 3D Robotics.
San Mateo-based GoPro has been wildly popular with its range of action cameras, and went public with a successful IPO in June 2014 with shares opening at $28.65; of close of business Wednesday shares traded at $79.05.
The company, as reflected in it stock price, has continued to defy market expectations. However, while growth in its core business has continued, sales growth has slowed. The company has previously pushed into the content creation business, signing a deal with Microsoft while building its online presence on sites including YouTube and Facebook.
The introduction of drones to its product lineup would immediately create new growth opportunities for GoPro in a still young market; drone sales are are up and interest in consumer drones is increasing, with a report from ConvergEx Group finding that drones have become a top autofill response on Google when typing in “I want to buy…”
The push into consumer drones over commercial drones also offers distinct advantages for GoPro: as we reported here November 25th, the FAA is shooting down commercial drone growth, limiting potential in that space. But more importantly the marriage of GoPro and drones (a GoDrone perhaps?) isn’t exactly new, at least outside the company proper.
Attaching GoPro’s to drones is a surprisingly popular pastime among drone owners, which pages upon pages available on Google from how to attach your GoPro to your drone, due to (naturally) a wide variety of footage taken from the air.
GoPro taking its technology to the sky will find a willing and wanting marketplace.
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