GoPro Inc (GPRO) Faces Stiff Competition as Polaroid Comes Up With “Cube”

GoPro Inc (GPRO)

GoPro Inc (NASDAQ:GPRO) had an excellent day with an increase of 7.66% in its share prices closing at $78.46. However, the company is facing strong competition with Polaroid and HTC Corp (TPE:2498) releasing individual products. Polaroid is the latest competitor with “Cube” action-camera designed for kids.

Against the current Hero Series from GoPro Inc (NASDAQ:GPRO), Polaroid has launched Cube with the capability to capture 1080p video at an amazing price of $99. Hero Series from GoPro is available in the price range of $199 to $399. Cube offers a cheaper version of the action camera to the people who cannot afford to invest $199, although it looks nothing like GoPro’s cameras. It comes with a black rubber cover, which is shock absorbent, and has a lens on one side of the device with waterproofing.

GoPro Inc (GPRO)

The CEO of Polaroid, Scott Hardy, is credited for the product and he said, “When we look at that market, we think it can be much bigger by not just targeting the professional and amateur and aspirational thrill-seekers but going after more of the lifestyle segments.” Hardy is the man behind mobile payment of Square and Beats Headphone. He has created a camera, which is easy and fun to use.

The device supports video recording at 720p and 1080p settings with a USB charging slot at the back. User can increase storage with external 32GB micro SD card and this camera has exactly addressed the demand of its target audience who won’t spend a fortune for the device.

Polaroid is the second company to compete with GoPro Inc (NASDAQ:GPRO) after HTC Corp (TPE:2498) announced its concept 16MP action camera earlier this month. HTC’s action-camera offers easy connectivity with iOS and android devices.

This article has been written by Prakash Pandey.

Related News:“GoPro Inc (GPRO) Facing Competition from HTC Corp’s Waterproof Action Camera”

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