GoPro is doing better and announces that it will expand its product line. The action camera maker wants to offer more specialized cameras.
GoPro finds ambitions and will expand its range by launching new cameras. From 2023, the famous manufacturer plans to offer two new models alongside its Hero and Max cameras. Company founder and CEO Nick Woodman says GoPro wants to launch more specialized cameras using a lot of its technologies.
Quoted by the site The Vergehe insists on the desire to present specialized devices that “address completely different user groups”. In the past, GoPro used to offer its Hero range in three models (White, Silver and Black) to reach a wider audience. Behind its flagship Black model, the brand added the Silver and White versions as for its Hero 3 or Hero 7 series. Since the release of the Hero 8, the manufacturer has been content with a single flagship model and prefers to continue selling its old cameras top of the line.
Currently, we find the Hero10 at the top of the range while the Hero9 and Hero8 remain in the catalog. GoPro indicates that it does not want to return to this model “good/better/better”, because it targeted the same types of buyers. From next year, we therefore expect to see the arrival of different and always top-of-the-range products.
Towards more specialized cameras
GoPro plans to focus more on the professional market with “high-end solutions” which would adapt to specific needs. As it stands, the manufacturer seems to want to bet on a versatile “Swiss army knife” camera and “derivatives” equipped with its technology to go further than the Hero and 360 models currently available. This announcement tends to confirm that GoPro is doing better after a delicate period.
In 2020, the pandemic and the confinements had prompted the company to lay off no less than 200 people, or 20% of its workforce. GoPro has since recovered and is showing encouraging results. After good results in the third quarter, the action camera specialist has confirmed the last three months of the year. Fourth-quarter revenue increased 9% to $391 million. And the company generated a net profit of 53 million ($0.32 per share) against 44 million ($0.28) a year earlier.
GoPro raises its head
Over the full year, GoPro recorded a turnover of 1.16 billion dollars (+30% compared to 2020). The number of subscribers has also increased by 107%, reaching 1.16 million at the end of 2021. Finally, the brand presents a net profit of 371 million dollars for the past year, against a loss of $67 million in 2020. “In 2021, GoPro navigated a tough business environment – and thrived”assures Nicholas Woodman. “The strategic shift we made in mid-2020 is paying off in the form of financial and operational improvements”welcomes Brian McGee, chief financial officer of GoPro.