GoPro Inc (NASDAQ:GPRO)’s professional immersive video camera system is great, but it does not seem to solve the problems that the video camera maker is going through.
The New Omni
This year, GoPro Inc had planned to focus on 3600 video and aerial photography and Virtual Reality. It is no surprise therefore that the company is planning to release the Omni, an amazing 360-degree VR video camera. It creates great 360-degree videos, though in reality, the videos are just stitched together by an editor so that they appear to be virtual reality at the end, although they are not. They can however be viewed on virtual reality headsets like HTC Corp (TPE:2498) Vive and the Oculus Innovative Sciences, Inc. (NASDAQ:OCLS) Rift. Unlike many high quality VR systems, Omni can capture shots in 8000 resolution. It can produce HD flat videos as well. Here, the videographer just picks the parts he or she wants to show.
The unsolved real problem and Tough economic times at GoPro Inc
Barely two years after its IPO, GoPro Inc is going through tough times financially. The action-camera maker has reported negative revenues recently and its revenue is dropping. Sales are down, and the release date of Karma, the company’s first drone has been postponed to the December the holidays. Even with its main product line, the Hero action camera, nothing seems to be alright, with customers yet to see another consumer-level product since last summer when GoPo Hero 4 was released. The new Omni is here, but the number of videographers interested in it may not be big enough to make a substantial impact. Samsung Electronics Co Ltd (KRX:005930) recently announced that its 360-degree video camera will go for $349, which is $100 less than what Omni will cost. Though Omni is more superior in almost all aspects, its cheaper cost may influence buyers to go its way. Indeed, with the release date of the next version of the Hero camera yet to be announced, Omni is far from helping the average GoPro customer.