GoPro announces layoffs, end of drone business
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. On 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. 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. 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. Tweet may have been deleted
Tweet may have been deleted
Featured Video For You
- 最近发表
-
- 50 Years Later: The Revolutionary 8008 Microprocessor
- 来东莞,到和美乡村过大年
- 瞄准油茶产业 助力乡村振兴
- 扎实做好“就地解决”文章 深入推进基层社会治理 更好地服务发展服务群众
- Foreign, multicultural students rise amid declining school population
- 发挥技术优势 解决群众难题
- 群众需求在哪里 文明实践推行到哪里
- 拔节而上!蕉岭毛竹产业冲刺亿元小目标
- World's first green ammonia plant is now open for business
- 名山区万古镇党委书记魏国获全国“人民满意的公务员”表彰
- 随机阅读
-
- 25 Years Later: A Brief Analysis of GPU Processing Efficiency
- 送技术到田间地头 助力椒农增收致富
- 拧紧思想开关 一以贯之严实作风
- 会“功夫”的服务区,来这里切磋一下咏春丨服务区里的“年味”⑤
- Pakistan Cricket at crossroads after shock defeat at Pindi
- 新增地灾隐患点排查复核取得阶段性成果
- 高全利:养猪业最大的灾难是管理低效!警惕这八大误区
- “黑校车”严重超员 驾驶人因危险驾驶罪被判刑
- If aliens harnessed solar power, could we detect them? NASA investigated.
- 扎实做好“就地解决”文章 深入推进基层社会治理 更好地服务发展服务群众
- 深汕向你发起美食共享!盐甜兼备击中味蕾
- 后勤有保障 救援添力量
- 实干担当抓落实 多措并举促发展
- 发挥技术优势 解决群众难题
- 焦点访谈丨护航高考 助力学子圆梦(雅安篇)
- 东莞常平镇积极推进“四小园”建设,点亮乡村美丽幸福新篇章
- 护航孩子成长 解决职工后顾之忧
- 6项16条保粮安!一图读懂《广东省加快推进供销合作社粮食全程社会化服务提升行动计划》
- 去年广东96个省产业园规模以上工业增加值3328.6亿元丨2024广东两会
- 雅安市农业农村局召开冷水鱼发展座谈会
- 搜索
-
- 友情链接
-