GoPro Inc (NASDAQ:GPRO) has had an excellent run since its initial public offering and the action-camera maker has witnessed 150% increase in its share prices in the past three months. However, the astonishing success achieved by GoPro Inc (NASDAQ:GPRO) in the industry has attracted several players with new products including Polaroid and HTC Corp (TPE:2498).
GoPro Inc (NASDAQ:GPRO) has created a whole new segment of electronic devices and it ranks number 2 in Jim Cramer’s top IPO list of the year. The company reported an increase of 38.1% in its revenue at $244.6 million during the second quarter 2014 results, although GoPro had GAAP operating loss of $16.7 million in the quarter. GoPro Inc (NADAQ:GPRO)’s shares trade at $80.10, an astounding increase from their IPO price of $24.00 per share. GoPro offers action cameras in $199 to $399 range and these can be easily mounted on bikes.
HTC Corp (TPE:2498), earlier this month, came out with a new 16MP waterproof action camera. The device is rumored to have Bluetooth and Wi-Fi communication channels along with smooth connectivity with Android and iOS devices. GoPro Inc (NASDAQ:GPRO) has sensed a potential threat from HTC Corp (TPE:2498) and the premium action-camera brand is going to release Hero 4 series of action cameras. As per the speculations, the Hero 4 camera is likely to have 13MP recording with a powerful 1GHz processor and sophisticated lens.
The latest player in the action camera market is Polaroid and it is a real concern because of its latest $99 action camera. Polaroid released “Cube” with a 720p and 1080p video recording capability and it comes with a USB charger slot. Cube is not a fancy camera but it is designed for the sports enthusiasts who are not willing to spend $200 on an action camera. Judging from the hype Polaroid’s Cube has got, it is certainly a matter of concern for GoPro Inc (NASDAQ:GPRO).
This article has been written by Prakash Pandey and edited by Serkan Unal.
Related News: “GoPro Inc (GPRO) Faces Stiff Competition as Polaroid Comes Up With “Cube””
“GoPro Inc (GPRO) Facing Competition from HTC Corp’s Waterproof Action Camera”
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