GoPro Inc. (GPRO) in collaboration with LG Electronics USA officially launched its GoPro Channel app for LG Smart TVs. The move is aimed at capitalizing on the prized webOS Smart TV technology of LG for offering GoPro’s immersive imagery video experience to millions of people.
The GoPro Channel app, available exclusively on LG webOS smart TVs, will allow owners to experience over 400 hours of enthralling GoPro high-definition videos on-demand on their LG Smart TV. The users will have the option of browsing videos across more than 20 playlists via the LG Magic remote. Notably, these stunning videos are shot by GoPro’s highly advanced camera – HERO4 Black.
GoPro’s alliance with LG will pave way for expansion of its content distribution and spreading out its reach past the current media platforms and social channels. Also, we believe the launch of the Channel app will strategically enhance the demand of GoPro’s HERO camera series, going forward. Notably, the company’s cameras can be attached to moving objects or even people and are specially used by sportsmen or sky divers to capture intricate details of a sporting episode.
As a matter of fact, this California-based portable camera maker had launched its IPO in Jun, last year and the company’s stock price has more than doubled since then. The company enjoys a first-mover advantage in the high definition portable camera market and its extensive camera portfolio also positions it well to counter fresh competition from new entrants.
GoPro has always been in the news for its stock price volatility brought about by the frequent recommendation changes made by analysts. While GoPro has a sound business model, the company’s size, limited scope for differentiation and intensifying competition remain causes for concern.
GoPro currently has a Zacks Rank #3 (Hold). Better ranked stocks in the sector include Skullcandy, Inc. (SKUL), Alps Electric Co. Ltd. (APELY) and Analogic Corporation (ALOG). All three stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment