In the company's fourth quarter 2017 results announcement, it said it will discontinue its Karma drone and exit the category. "Despite significant marketing support, we found consumers were reluctant to purchase HERO5 Black at the same price it launched at one year earlier", reads GoPro's press release. GoPro cut the price on December 10, which helped sell-through at the expense of margins.
Shares in GoPro dropped more than 20 per cent today, but partially recovered after the camera company said it would consider selling up to a new owner. The premium model now goes for $399, down from $499.
"Although Karma reached the #2 market position in its price band in 2017, the product faces margin challenges in an extremely competitive aerial market", says the GoPro statement. GoPro has also cut the price of the Hero6 Black camera from $499 to $399 to improve sales.
GoPro has faced intensifying competition in the action camera market, as big tech companies from Samsung Electronics to Google have started selling similar products. GoPro said that new regulations being considered in the USA and Europe would reduce the overall market for recreational drones. The current workforce of 1,254 employees will be whittled down to fewer than 1,000.
News broke Monday afternoon that GoPro has hired JPMorgan to explore a possible sale.
While GoPro's stock came under serious pressure on Monday, there was one clear victor in its investor base: traders betting against the company.
According to CNBC, CEO Nick Woodman is considering a partnership or sale of his company, and has paid for the services of J.P. Morgan Chase to help facilitate it. Its holiday results were downright very bad, and its disastrous attempt to enter the drone market is the kind of mistake that well-run companies seldom make.
Ambos lugares comunes son parte de los mandatos gestados en las raíces de la cultura patriarcal, que le asignan un rol subordinado al género femenino . "¡Es un refrán viejo! He hecho canciones de amor toda mi vida ".
De enero a noviembre de 2017 el estado tuvo 860 homicidios con arma de fuego, mientras en 2016 fueron 791 en el año completo. Los comensales que se encontraban en el restaurante salieron corriendo al ver entrar a los hombres armados.
Buffalo settled for a 31-yard field goal by kicker Stephen Hauschka to take a 3-0 lead with 1:49 left in the first half. Jacksonville have won the AFC South for the first time ever with defence and the running game.
Thirty-two people are missing after an oil tanker and a cargo ship collided off China's east coast on Saturday evening. Iran's oil ministry has confirmed that at least 30 Iranian citizens were missing in oil tanker incident.
Recorded in the fall and aired December 27, the former president said that leaders shouldn't use social media to stoke division. Former President Obama, the show's inaugural guest, will give his first TV talk show appearance since leaving office.
Los Tiburones Rojos anunciaron la llegada del volante peruano , que llega a préstamo por un año con opción de compra. Su rendimiento será clave para que los Tiburones Rojos se queden en definitiva con su carta pase.
Murió la cantante del hit en francés que el mundo bailó
Gall sufrió duros golpes durante su vida: su esposo murió a los 44 años, en 1992, y cinco años después falleció su hija Pauline . France Gall procedía de una familia de músicos y desde los 16 años ya estaba pisando los escenarios.
'World's most expensive vodka' found on Danish building site
The bottle is covered with leather and has a replica of the radiator guard used for Russian luxury auto maker Russo-Baltique. The gold and silver bottle features a diamond-encrusted cap, but somehow, the thief missed these embellishments completely.
4 powerlifters killed in Delhi road crash
Meanwhile, Yadav is undergoing treatment at Max Hospital in Shalimar Bagh and Rohit is being treated at the LNJP Hospital. Yadav, who was admitted in "extremely critical" condition at the AIIMS Trauma Centre, succumbed on Sunday evening.
Bills fans give quarterback's foundation a big boost
The "Bills Mafia", as they call themselves, thanked Dalton for his heroics, sending massive amounts of donations to his charity. Here's yet another Bills fan getting a tattoo of the Bengals QB, this time with Dalton throwing himself through a table.