GoPro, the brand synonymous with action cameras and automotive videos is being pounded by the competition, the consumers and the stock market. GoPro is planning to layoff a Quarter of Its Staff.
GoPro has recently faced increased competition. Once the only man about town, Insta360 and DJI have since entered the space with better tech, smaller cameras, easier-to-use backend apps, and cheaper offerings. These two primary rivals have actually delivered reliable and competitive cameras.
GoPro in its recent statement mentioned they will be laying off 26 % of its staff. Originally they had planned only 15 % layoff earlier this year.
Stock price has fallen precipitously in recent years for GoPro as sales declined, inventory stockpiled, and the brand name lost a little bit of its “action”. Their market share is still being poached by the fast growing Insta360.
GoPro’s is having a hard time upgrading their cameras in meaningful ways. Innovation was initially easy, fast and large-scale. The photos and reels were glamourous, spectacular. Then on, their changes were incremental to the point where consumers have to ask themselves, “Why do I need another new GoPro when it’s so close to the last one?”
Apple faces this same problem with each successive iPhone.
In near future, GoPro might have to reinvent itself in the new world of AI and open-source–or it may have to accept acquisition or forced mergers.
Well, that sucks balls because in the recent festive sales, I had got myself an alleged bargain for the latest GoPro HERO 13 Black. So far, they have yet to bring the accessories to overseas market for this pricey bling. Am I stuck with a lemon? Time will tell and shit will smell.
Below is the features and specs and usage of this latest GoPro 13 from a Vlogger on YouTube
