GoPro Sales Drop, Staff Are Laid Off

With slumping sales, GoPro has just laid off 7 per cent of its staff and shares are down by 24 per cent. Is the action cam genre too niche to keep the company alive?

“Fourth quarter revenue reflects lower than anticipated sales of its capture devices due to slower than expected sell through at retailers, particularly in the first half of the quarter,” GoPro said in a statement.

Lukewarm reception to the Hero4 model hasn’t helped. Prices were cut shortly after release due to lower than expected sales.

At this year’s CES, there didn’t seem to be anything new on offer from GoPro.

Concerns are being raised that GoPro’s reach outside of the extreme sports community isn’t enough to sustain it into the future, and a more mainstream approach may need to be taken to turn things around.

[Business Insider]

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