Home > Latest News > Go Pro Shares Slump 15% After Apple Reveal Potential Competitor

Go Pro Shares Slump 15% After Apple Reveal Potential Competitor

Go Pro Shares Slump 15% After Apple Reveal Potential CompetitorAs reported by Patently Apple, the patent was originally filed in 2012, and indicates the potential for Apple to move directly into GoPro territory.

The patent describes how devices can be mounted to various objects, including a bike helmet or a scuba mask, and additionally details perceived weaknesses with GoPro cameras, such as “excessive wind resistance” and presenting “a high profile that is more susceptible to damage”.

The patent further describes the need for a camera that can be used in a conventional mode and streamlined mounted mode, providing a lower profile and reduced wind resistance.

As reported by Reuters, GoPro shares have fallen by as much as 15 per cent.

However, JMP Securities analyst Alex Gauna told Reuters it was premature to assume Apple would soon launch a wearable camera, stating he does not believe “launching an action camera accessory is the most logical product extension for Apple to pursue right now”.