It seems like GoPro, Inc. GPRO will never cease to amaze its investors by coming up with new products when they least expect it. Keeping alive its momentum of product launch, the leading camera manufacturer has presently come up with HERO+ LCD camera to boost its portfolio of entry-level HERO cameras.
What’s New?
The latest camera comes with a host of advanced features and has been priced at $299.99 MSRP. The product will be available for purchase at authorized GoPro retailers and GoPro.com from June 6, 2015 onward in the U.S. Other markets can expect availability by Jul 12.
Endowed with usual 1080p60 video and 8MP photo capture techniques, the latest product provides an additional touch display feature that will make ‘shot framing’ highly convenient. Further, the HERO+ LCD is likely to floor photography enthusiasts with its advanced settings, robust battery life, expandable memory, water-proof quality and in-camera video trimming features.
Moreover, powered with built-in WiFi and Bluetooth, the HERO+ LCD cameras can easily be connected to GoPro App-enabled smartphone or tablet for easier camera control and shot preview. Also, the HiLight Tagging feature of the camera will allow users to mark desired moments while recording, which makes editing easier. At the same time, the camera’s ability to share images on social media platforms like Instagram, Facebook and Twitter adds to its commercial appeal.
Our Take
This is GoPro’s third attempt at launching a new product within a span of two weeks. Prior to this, the company had forayed into the air-borne equipment market, with its own quadcopter drone slated for launch in the first half of 2016. Alongside, GoPro announced a six-camera spherical array in alliance with tech-giant Google Inc. GOOG that is in its pipeline (read more: GoPro to Fly Drones; Make Virtual Reality Camera System).
The latest launch, however, can be distinguished from the previous two on the ground that it is aimed at strengthening the company’s foothold in the entry-level market. The relatively lower price of the product, coupled with its impressive features, is expected to delight users and boost GoPro’s revenue stream, going forward.
GoPro products have enjoyed good market traction for its HERO line of capture devices. Shipment units of these capture devices were up 58% year over year in the first quarter of 2015 and are expected to drive significant revenue growth in the forthcoming quarters as well.
GoPro currently sports a Zacks Rank #1 (Strong Buy). Investors can also consider other stocks like Sony Corporation SNE and Dolby Laboratories, Inc. DLB. While Sony sports the same Zacks Rank as GoPro, Dolby carries a Zacks Rank #2 (Buy).
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