The company announced that it will be releasing a new camera known as the GoPro Hero+ LCD.
Shares in GoPro leaped as much as 7% following the announcement on Monday. The new camera is just the second GoPro to have a screen built in.
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Share price suffers due to increasing competition
Another announcement last week saw GoPro shares jump by up to 7%. CEO Nick Woodman revealed plans to develop a 6-camera virtual reality recording system and a drone. According to analysts, these two offerings could contribute up to $475 million in sales over the next financial year.
Shares in the company are up 89% in the last 12 months, but down 6% year-to-date. Competition in the point-of-view camera space is increasing as other companies enter the market, and analysts have blamed this development for the recent weakness of GoPro stock.
The GoPro Hero+ LCD will sell for $299 in the United States from June 6 onward. The basic Hero model sells for $130, which means that the new version is significantly more expensive.
GoPro Hero+ LCD new features over previous Hero camera
However it does offer a raft of improvements, as well as the obvious addition of the LCD screen. The Hero+ LCD is capable of recording 1080p video at 60 frames per second, and can take 8-megapixel stills. The older Hero can record 1080p at 30 fps and take 5-megapixel stills.
Other new features include built-in WiFi and Bluetooth, as well as HiLight tagging, which was previously only featured on higher-end cameras. The GoPro Hero+ LCD also boasts in-camera video trimming, which has never been seen on the company’s cameras before. The feature allows users to trim bad footage from the beginning or end of your video to make it pretty much ready to share via the GoPro app.
As previously mentioned, competition in the space is hotting up. In this price range, the GoPro Hero+ LCD will go into battle with a Sony rival which boasts a similar set of features. The Sony camera features a screen which is a wearable accessory, meaning that you can see your shots even if the camera is attached to your head or a drone.
Another rival is the Drift Ghost S, which matches the 1080p/60fps capabilities of the new GoPro.