The action sport camera industry is one that is growing at a rapid pace. The ability to relive adventurous, and thrilling experiences are now as simple as clicking a button. According to Futuresource, the global action sports camera market advanced by 44% in 2014, hitting $3.2 billion. Futuresouce also notes that the action sports camera market will see continuous growth for at least the next five years, for many reasons, including longer replacement cycles.

The Goliath in the market has been GoPro, Inc. (NASDAQ:GPRO). What some don’t know is that GoPro isn’t the only company making noise in this quickly growing industry. One company in particular that has been making headway this year is Life Clips Inc. (OTCMKTS:LCLP). Life Clips’s action cameras are focused on families, athletes, and vacationers. It features innovative accessories such as one-time use batteries for phones and will allow for live streaming as well as high definition videos from any perspective. Now, this sounds very similar to a GoPro, but there are some additional features.

First, Life Clips has a number of features that GoPro does not have. For example, there is a built-in gyroscope for precise stabilization, built-in motion detection for activation, as well as a 16-megapixel camera. In addition, the video options were 4k, 2k, 1080 and 720, will have a 32GB memory card, and will have a burst mode, time lapse & looping video modes.

Second, Life Clips’ cameras are more than 50% less than the cost of any GoPro Camera. The average price of the three main cameras GoPro sells is over $350 per camera. However, Life Clips truly undercuts that with a price of $159. Here is what Life Clips CEO, Bob Gruder, had to say, “We are coming out of the gate swinging. We aim to aggressively compete with companies like GoPro by offering comparable or better features at a far lower price. The SoloVu™ will retail for $159.00, which is significantly less than the leading brand. What we have here is a feature and option rich product with a quality and a price that should be extremely attractive to consumers. We are not putting the cart before the horse; we are currently in the advanced stages of conversation with some of the nation’s largest distributors and big box retailers. We anticipate having a great roll out of this initial camera product. We hope to have several more exciting models releasing this year as well.”

On June 30th, Life Clips announced they have signed an exclusive distribution agreement with Cities Market for its 4k Action Camera & Accessories to have the access to distribute to Best Buy and Target both in store and via e-commerce. The company also recently announced on July 6th, that they have developed new HD 360-degree action cameras that are set to be released for August 2016. The camera is expected to retail for $269 USD, which is almost 32% than the “360 Fly.”

Over the last 90 days LCLP has an impressive price per share increase of 166.66%, from lows of $0.18 in early April to it’s closing price Friday 7/15/16 of $0.48. However, if we look at GPRO trading activity over the last year, it is currently down over 443% from highs of $62.25 July of 2015 to its closing price on Friday of $12.00. Life Clips is looking to gain some of the market share that has been dominated by GPRO for as long as we can remember and they are doing so by offering more features at a lower price.

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