GoPro Inc (NASDAQ:GPRO) held a launch event this week and surprised everyone with the debut of two new cameras, the Hero 6 Black and the Fusion 360.
The company held the launch event on Thursday and revealed the two additions to its product line and it hopes that they will contribute towards the recovery of its stock. The GoPro Hero 5 was quite a strong offering when it was launched and so there is a lot of curiosity about the new features or improvements that will be featured in the two new cameras.
The GoPro Hero 6 has the ability to shoot 4K video footage at 60 frames per second and it comes with a built-in internal stabilizer. The company’s CEO, Nick Woodman revealed that one of the new changes also include a new processor to power the camera. The Fusion 360 camera as the name suggests is designed to record 360-degree footage and it is also fitted with VR capabilities. It also has a new feature that the company calls “Overcapture” that allows users to choose a specific part of the feed to derive a limited but sharable footage.
“This is a very powerful camera that can pump out very high frame rates for incredible visual slow motion effects,” said Woodman during a CNBC interview.
Woodman also defended his company from claims that his company is service a dying market. This is in relation to the fact that GoPro has been facing heavy competition from mobile phone cameras which have been increasingly becoming better. This has presented itself as a huge threat to action camera companies such as GoPro and as such, has led to a negative impact on the stock performance.
GoPro hopes that the 2 new cameras will contribute significantly to its revenue and also help towards the recovery of its stock. Woodman hopes that the newly launched products will help steer investors toward a positive outlook for the firm’s future.
GoPro stock closed the latest trading session on Thursday at $11.48 after tanking by 1.18 percent compared to the value of the stock during the previous close.