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GOPRO INC (GPRO)
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GoPro : releases new 360-degree camera in Korea

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01/12/2018 | 01:47pm CEST

U.S. tech company GoPro released Fusion, its new 360-degree camera, in Korea, Thursday, with hopes of overcoming its business slump.

Fusion captures everything, shooting immersive 5.2K, 360-spherical content, the company said. The new product also unlocks unique perspectives and visual effects that are not possible with traditional single-lens cameras.

During a news conference held in Seoul, Rick Loughery, vice president of global product and lifestyle communications, called the new 360-degree camera "a tool for creativity."

He said, "What is more important is software," introducing the new "Mobile OverCapture" editing feature, which allows iOS users to reframe and save traditional fixed-perspective videos "punched out" from the larger 360-degree video.

Lee Soo-hun, who is in charge of GoPro marketing and training in Korea and Japan, said users can use the mobile app to create excellent videos without professional help.

"We also have the desktop app called Fusion Studio, which would be used by professionals," he said.

The company stressed the GoPro apps enable users to control the camera, live preview their shots and share content right from their iOS smartphones.

Apps for Android will be released next month, the company added.

Presales are underway at GoPro.com at a price of 890,000 won. Shipping is due in February.

Eyes are on whether the U.S. company would be able to overcome its financial difficulties with its new camera product.

The firm announced this week it has decided to drop its drone business and ended sales of its Karma camera drone amid intense competition and a downturn in sales.

The firm also plans to cut its workforce by 20 percent, laying off at least 250 employees.

Some media reports said the sale of the company has been in consideration as well.

When asked about the future of the company, Loughery said the firm will continue to focus on cameras as well as software, promising great updates for its apps.

(c) 2018 Korea Times Co. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2018 1 083 M
EBIT 2018 -49,7 M
Net income 2018 -128 M
Finance 2018 60,4 M
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 0,63x
EV / Sales 2019 0,64x
Capitalization 741 M
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Mean consensus HOLD
Number of Analysts 8
Average target price 5,71 $
Spread / Average Target 19%
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Managers
NameTitle
Nicholas Woodman Chairman & Chief Executive Officer
Brian McGee Chief Financial Officer
Edward Arthur Gilhuly Independent Director
Michael E. Marks Independent Director
Kenneth A. Goldman Lead Independent Director
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