Could this mean goodbye to GoPro? According to sources, the well-known camera brand is currently in its darkest hour.
The company is reported to not only have experienced huge losses in the last quarter, but to have also fired the Chief Financial Officer, as well as discontinuing all but three of its current camera models. Last month, it was revealed that the company’s sales over the Christmas period had come in well-below expected, falling short of around $34 million. The company’s shares have also taken an extreme hit with an 89% decline since their all-time high back in 2014.
GoPro CEO, Nicholas Woodman commented: “We recognize the need to develop software solutions that make it easier for our customers to offload, access and edit their GoPro content.” Does this basically mean that his strategy is to just hold on to their existing customers and never make them leave?
Could the invention of the selife-stick be to blame for the vast decline? Either way, the future’s not looking too bright for the company.
Source: Financial Times