GoPro is coming to terms with reality. Despite its best efforts, it's just a camera company.
The above line was written over a year ago by Mashable's Kerry Flynn but the line is just as true now as it was in November 2016.
SEE ALSO:Facebook releases free music and sound effects for video creatorsOn Monday, GoPro confirmed reports of layoffs, reducing its current workforce to fewer than 1,000 people, and announced it was exiting the drone business. Later, CEO Nick Woodman even hinted he'd be up for selling the company.
Tweet may have been deleted
The layoff and drone news was buried in a press release from the company exploring fourth quarter 2017 results. But under the heading of "2018 Products and Operating Expenses," the company laid out three big changes: reducing their workforce from 1,254 to under 1,000, slashingfounder and CEO Nicholas Woodman's "cash compensation" to just $1, and their exit of the drone market.
As for the drone decision, the release detailed:
Although Karma reached the #2 market position in its price band in 2017, the product faces margin challenges in an extremely competitive aerial market. Furthermore, a hostile regulatory environment in Europe and the United States will likely reduce the total addressable market in the years ahead. These factors make the aerial market untenable and GoPro will exit the market after selling its remaining Karma inventory.
The company did note they would continue offering support for its Karma drone.
And in non-drone and non-layoff news, the company announced that, as of Sunday, the price on its popular HERO6 Black camera had been cut by $100, from $499 to $399. The company reported good sales on its HERO5 Black camera after it cut that device's price in December 2017 for the holiday shopping season.
Tweet may have been deleted
Following the announcement, GoPro stock sunk by more than 20%.
It's been a rough trip for GoPro, which saw its fortunes tumble in late 2016 following a big miss in the third quarter of that year. Besides previous layoffs, the company also shuttered its ambitious entertainment division and had to recall hundreds of its Karma drones.
And 2018 is definitely turning out to start on a cold note for the company after a rosy outlook in 2017, after all that tumult.
TopicsDrones
(责任编辑：綜合)
Twitter grants everyone access to quality filter for tweet notificationsHurricanes Harvey, Irma haven't changed Trump's mind on climate changeHurricanes Harvey, Irma haven't changed Trump's mind on climate changeSpace Station cameras reveal sinister size, shape of Hurricane MariaMake money or go to Stanford? Katie Ledecky is left with an unfair choice.How Hyperloop One went off the rails
In December 2014, an engineer with the unlikely name Brogan BamBrogan was in the driveway of his cla
...[详细]Shailene Woodley shames people who watch TV while on Emmys TV awards show
Shailene Woodley has an important PSA for everyone watching the Emmys tonight: she's smarter than yo
...[详细]Blizzard Entertainment will soon have its own esports arena in L.A.
Blizzard Entertainment's esports will get their own home soon: Blizzard Arena Los Angeles, located i
...[详细]Woman covers entire face with pink glittery poster paint and you know what happens next
Call me a killjoy, but there are some things in life that are just generally not good ideas. Like, p
...[详细]Fake news reports from the Newseum are infinitely better than actual news
Actual investigative journalism: who needs it?At least, that's what some people will likely conclude
...[详细]'Game of Thrones': Why Tyrion is responsible for everything
Tyrion Lannister doesn't get enough respect. That's a common theme on Game of Thrones, but it's also
...[详细]The new Apple Watch with LTE connectivity won't get you out of buying an iPhone
The $399 Apple Watch Series 3 is the latest and most significant update to Apple's line of smartwatc
...[详细]Teardown reveals just how similar the iPhone 8 is to the iPhone 7
The iPhone 8 is finally here -- and by here, we mean you can go and buy it in a store.。 But is this
...[详细]SINGAPORE -- Getting stuff done at the bank often involves having to waste part of your day standing
...[详细]One of the biggest decisions in Australia's marriage equality debate drew just about everyone onto s
...[详细]Singapore gets world's first driverless taxis
Polaroid OneStep 2 review: Bringing back real Polaroids for $100
