GoPro announced their revenues for the past quarter and according to the results, it seems that their earnings are going off a cliff. The popular camera company’s revenue is $436.6 million for the past quarter which leads to a loss of $34.4 million. Also, the forecast for next quarter drops from $300 million that was previously anticipated to only $160 million today.
Because of this major threat, GoPro is going to cut down their camera lineup in half – only selling the Hero 4 Black, Hero 4 Silver and the Hero 4 Session. The rest of the cameras will be phased out, including the GoPro Hero.
I think that the decline in revenues is due to the new and more affordable action cameras that are out in the market today, even though the GoPro line is arguably still the best. Some of the best and cheapest GoPro 4 alternatives include the Xiaoyi Yi Action Camera, Polaroid Cube and SJCAM SJ5000.