Technology innovator GoPro hasn’t fared well in the market as of late.
Pressured by increased competition in a niche space it helped create, the California-based action camera company is turning to third-party licensing deals to raise revenue and get the company back on track according to Camera Jabber.
The first deal announced is with a company called Jabil. Jabil will license GoPro’s sensor and lens technology in third-party branded products. The agreement will cover a wide range of GoPro’s product line. This isn’t the first time GoPro and Jabil have joined forces.
Collaboration between the two firms began with the HERO4 camera, a part of GoPro’s popular HERO product line of action cameras. Jabil’s vice president of Jabil Optics Irv Stein said of the partnership, “This agreement is a natural extension of our long-standing relationship with GoPro and our commitment to developing innovative technologies…Early market feedback indicates strong demand in the enterprise action camera segment for applications in smart homes, military, fire, police, rescue, and security.”
To expand its presence in the entry-level action camera market, GoPro’s new Hero camera, priced at $200 and notching in just below the Hero 5 and Hero 6, promises to feature the best of those two pieces of gear without the hefty price tag according to Gizmodo.
While the new GoPro Hero will be a “strictly a 60fps or lower shooter” it will also be waterproof up to 30 feet without additional housing, feature voice control, video stabilization, and a two-inch display in addition to being compatible with current GoPro accessories.
The return to budget devices for GoPro signals a shift in the company’s strategies over the past few years which have seen its foray into drone technology flop hard while market competition for its bread-and-butter products ramped up exponentially. There is little doubt that GoPro makes durable stuff, though, if you'll recall our story from last year about the GoPro and the volcano. Here’s to hoping the action camera maker can get back on track and return to innovating in its home niche.