GoPro, the maker of the most versatile action cameras, decided to reduce further the price of the HERO4 Session to $199. The company called the price reduction a “game changer” citing the reason that it would make it easier for everyone to self-capture and share wow footage of their favorite activities.
The HERO4 Session is waterproof with a size of an ice-cube and weighs only 2.6 ounces. The action camera features a simple one-button control design that allows users to capture footages where it is impossible for them to use their smartphone.
GrizzlyRock Value Partners was up 34.54% net for 2021. The fund marked 10 years since its inception with a 198% net return, resulting in an annual return of 11.5%. GrizzlyRock enjoyed 14.8% long alpha against the S&P 500 and 26.9% against the Russell 2000. Q4 2021 hedge fund letters, conferences and more The fund's short Read More
GoPro HERO4 Session: perfect for the holiday season
The HERO4 Session is integrated with Bluetooth and WiFi capabilities and captures professional quality wide-angle 1080p60 video and 8MP photos, It is compatible with GoPro’s collection of more than 30 accessories including helmet, chest, board, bike, gear and pole mounts.
In a statement, GoPro CEO Nick Woodman said, “The waterproof HERO4 Session is so durable and easy to use. It’s the perfect way to capture rough-and-tumble family activities this holiday season. From snowball fights to snowboarding, the footage will look so immersive you’ll feel like you’re reliving the experience.”
“I’m stoked that for just $199, everyone can GoPro this Holiday season,” added Mr. Goodman.
Consumers have no reason to replace their GoPro camera
Matt Burns of TechCrunch commented that the $199 price for HERO4 Session is in line with its capabilities, and GoPro should have sold the action camera for that amount. He added that the HERO4 Session’s video quality is not as good as the HERO4 Black or Silver, which cost $499 and $399, respectively.
He noted that GoPro is now selling five cameras with a price range from $499 or less, which he thinks confuses consumers because they have different SKUs. According to him, the company is struggling to maintain its sales growth because its products have good quality—it “can survive a fall from the edge of space. Therefore, consumers do not have a reason to replace their GoPro camera.
The shares of GoPro are trading at $18.05 per share, down by more than 4% at the time of this writing, around 2:17 in the afternoon in New York.
The company’s stock price went down from its highest level of $74.50 to as low as $17.55 per share over the 52 weeks. GoPro lost more than 71% of stock value year-to-date.
GoPro has been facing pressure from its investors given the performance of its stock, which was negatively impacted by a disappointing product launch, the weakening Chinese economy, and the bearish recommendations of Wall Street analysts.
Market observers believed that main reason behind the decline of GoPro’s stock was the failure of the HERO4 Session to attract consumers. Mr. Goodman explained that the product’s weak sales performance was due to the bad timing of the launching and high starting price.