GoPro Inc (NASDAQ: GPRO) released a new camera, the GoPro Hero 4 Session, and it is the size of an ice cube. GoPro showed impressive growth over the years, and now constitutes about 70% of the U.S video camera segment. Approximately 15 million GoPro cameras have been sold, and profits skyrocketed last year, yet 2015 wasn’t great for the company’s investors so far. The stock lost more than 20% in value year to date due to concerns over limited growth potential.
The company reports that the new GoPro Hero 4 Session is about 50% smaller and 40% lighter than the more traditional GoPro Hero 4 models. It is an 8 megapixel camera with a wide angle lens, that is water resistant, and designed for extreme sports enthusiasts who value compactness more than other features.
The small design doesn’t come without a cost, the Session has no screen to view pictures on, no buttons to change modes, and doesn’t allow the user to change the battery, which will last 2 hours only. For those who seek the smallest and lightest HD video camera, these missing features are not as crucial.
Nick Woodman, GoPro’s CEO, was the highest paid CEO in the U.S in 2014 according to Bloomberg. Woodman received $284 million in a package of restricted stock units. As for the concerns over limited growth opportunities Woodman reveals that he has big plans for the company, diversifying its line of products.
One of the new product lines will hit the markets this August - GoPro will be expanding into the virtual reality segment, with a 16 camera unit that works with Google's (NASDAQ: GOOG) virtual reality technology. Long term plans include a quadcopter drone with a built in GoPro camera.