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GoPro's New Vision: Become an Extension of the Smartphone

Image: GoPro's New Vision: Become an Extension of the Smartphone
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Friday, 04 Aug 2017 06:13 AM

GoPro CEO Nick Woodman laid out a new vision for the action camera maker during the company's Q2 2017 earnings call Thursday.

Instead of competing with camera-equipped mobile phones, GoPro now wants to become an extension of the phone, and essentially market it to anyone sharing photos and videos on services like Instagram and elsewhere.

"GoPro's biggest opportunity may be to serve as an untethered lense to the smartphone," Woodman said. The goal of the company was to make the smart phone central to the GoPro experience, added GoPro COO CJ Prober.

Woodman went on to tout the company's early results in becoming more mobile-friendly. The company's Quik app, which allows users to edit their GoPro footage on their mobile devices, was installed 5.6 million times during the second quarter alone. GoPro also recently launched a QuikStories feature as part of its main GoPro app that automatically generates shareable video highlights.

GoPro saw its business rebound during the second quarter, generating $296.5 million in revenue, compared to $220.8 million during the same quarter a year ago. The company's losses declined to $30.5 million on an adjusted basis, compared to $91.8 million a year ago.

GoPro significantly reduced its costs, thanks in part to significant layoffs, and the decision to end an ambitious content initiative, at the end of last year.

GoPro has in recent months announced a number of new products, including a spherical camera capable of shooting 360-degree videos. The company has in the past frequently struggled to deliver newly-announced products on time, but Woodman said Thursday that it will meet its deadlines this time around.

© 2017 Thomson/Reuters. All rights reserved.

 
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GoPro CEO Nick Woodman laid out a new vision for the action camera maker during the company's Q2 2017 earnings call.
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2017-13-04
Friday, 04 Aug 2017 06:13 AM
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