GoPro Inc (NASDAQ:GPRO) has reportedly pushed back the launch of its GoPro Hero 5 action camera to October 2016. According to reports, the move is intended to allow developers to add more upgrades to the new GoPro camera. The firm had decided on an earlier launch date for the Hero 5, but latest reports indicate that it wants to incorporate more features and make the device stand out in the market, as well as provide better performance and functionality.
Hero 5- will it revive GoPro’s fortunes?
The Hero has been the California-based firm’s flagship action camera and the Hero 5 is expected to be equally popular, if not more. However, poor decision-making by the firm’s management has eroded investor confidence in the company, with shares plummeting 62.73% in the last 3-month period. The decision to price the Hero 4 Session (which received modest reviews) at $399.99 at launch led to poor sales of the device, after which GoPro Inc (NASDAQ:GPRO) slashed the price twice to $199.99. On January 15, the firm announced job cuts and lower-than-expected revenue for Q4 2015, admitting that the pricing decision hurt their sales.
The situation has been worsened by a flurry of class-action lawsuits against the company by securities-litigation law firms such as Brower Piven, Faruqi & Faruqi, Kaplan Fox and Robbins Arroyo. The firms allege that GoPro Inc (NASDAQ:GPRO) provided false and misleading financial statements to its investors.
GoPro Inc (NASDAQ:GPRO) is desperately looking for a product that will solidify its hold in the market again, and the Hero 5 may just be the device that provides it the win. There has been speculation aplenty regarding the features offered by the Hero 5, though the company has not released any details yet.
Possible GoPro Hero 5 features
Underwater shooting– The GoPro Hero 5 is expected to have high quality underwater video shooting capabilities and may reach depths of 60 meters. In comparison, the Hero 4 has waterproofing capabilities of only 20 meters.
8k video– The new Hero 5 may be capable of recording 8k videos, a quantum leap from the 4k video recording resolution offered by the Hero 4. However, in the short term, playing such videos will probably be out of reach for the average consumer, since it would require high-end computer processors to play them. But if you think long term, when 8k will probably become the norm, this might well turn out to be the camera of the future. In addition, the Hero 5 would also be capable of shooting videos of 60 frames per second, rumours suggest.
Size– The Go Pro Hero 5 is anticipated to be 50% smaller and 40% lighter than the Hero 4 and would probably be made to fit inside the Karma drone being developed by the company.
The Hero 5 is expected to be in the price range of $450 to $550.
There is a caveat, though, with all the rumoured features that are bound to make camera aficionados delirious with happiness. Experts opine that the upgrades and high-end capabilities may negatively affect the camera’s battery life and noise management. This is surely an aspect that GoPro will have to work upon.
GoPro Inc (NASDAQ:GPRO) shares on January 25 fell 2.22% or 0.24 points, leading to a decline in the firm’s market cap. After the session commenced at $10.74, the stock reached the higher end at $11.33 while it hit a low of $10.58. With the volume surging to 4.19mn shares, the last trade was called at $10.59. The company has a 52-week high of $65.49 and a 52-week low of $9.9. It has a market cap of $1,456mn with 137mn outstanding shares. GoPro Inc (NASDAQ:GPRO) stock has been down 7.59% in the last five trading days, dropping 42.26% in the last 4 weeks. Year-to-date, the stock performance stands at -41.2%.