All adventure lovers, vloggers and videographers are very familiar with the brand, GoPro. Even with non-techy people, the brand’s action camera needs little introduction.
However, GoPro announced that it would not be extending its drone line and cut nearly 20% of its global workforce (close to 300 jobs), due to the difficulty of making a substantial profit in the “extremely competitive aerial market” and restructuring of the organisation.
In 2017, the company suffered huge losses. Despite the hype around the launch of the Karma drone in mid 2016, 2,500 drones were recalled after many were falling mid-flight due to an engineering fault. When GoPro fixed the Karma and relaunched them in 2017, people were already over it and turned to other brands like DJI. The launch of the latest GoPro Hero6 Black and GoPro Fusion was not enough for the company to make up for their losses. The company said that they will completely exit the market once it has sold the remaining of its Karma inventory.
GoPro Hero6 Black $595
GoPro CEO Nick Woodman is willing to take drastic measures to turn his company around in 2018. In his statement to CNBC, Woodman hinted at the consideration of an acquisition or merger if it significantly contributed to the growth and scale of GoPro.
So what does this mean for current owners of the GoPro Karma? Not to worry. In a statement by GoPro, they pledged to “continue to provide service and support to Karma customers” despite the cessation of the production of drones.
Header Image: Business Insider
Other Images: GoPro
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