Monday, 8 January 2018

Camera-maker GoPro drops drones as sales plunge

Camera-maker GoPro said it is getting out of the drone business following "hostile" regulations in the US and Europe.

The firm made the announcement on Monday as it warned investors of disappointing end-of-year results and layoffs.

GoPro said revenue fell almost 40% in the fourth quarter to $340m compared with the same period in 2016.

The firm said it is committed to "turning around" the business.

On Monday, GoPro said sales struggled during the critical holiday shopping season.
The firm was forced to slash prices of key products, including the HERO5 Black camera, to increase demand in a move that cost about $80m.

BBC      News.