What Can We Expect from GoPro in 2Q17? PART 2 OF 6
GoPro announces first pilot shipment of Fusion
Earlier this month, GoPro (GPRO) announced the first pilot shipment of its Fusion camera to Fox Sports (FOX), Golden State Warriors, AccuWeather, USA Today Network, Getty Images, Digital Domain, Legend3D, Rapid VR, travel vlogger Louis Cole, and RYOT.
In April 2017, GoPro invited applications from content professionals to use its new 5.2K (thousand) spherical camera as part of its pilot program. The company wanted to demonstrate the creative potential of Fusion, its 360-degree camera used to capture spherical videos and photos.
In GoPro’s press release, CEO (chief executive officer) Nicholas Woodman stated, “GoPro has always looked to our creative community to really show us what our products can do. Given Fusion may be the most versatile content creation tool ever made, we’re expecting big things.”
GoPro is optimistic about the Fusion camera and stated that it will incorporate the feedback received by creative content professionals to refine the overall user experience when it officially launches the camera later this year. The details of Fusion’s price and specifications will be provided during the launch.
Is GoPro late with the launch of its Fusion camera?
While GoPro expects to have its Fusion camera available later this year, peer companies such as Samsung (SSNLF), Garmin (GRMN), and Eastman Kodak (KODK) have already launched their 360-degree cameras. Fusion will need to focus on product differentiation and user experience to compete with Samsung’s Gear 360 and Garmin’s VIRB 360.
Last year, Nikon launched a 4K 360-degree camera to enter the action camera segment. According to Hexa Research, the digital camera market is likely to reach $28.7 billion by 2025, growing at a CAGR (compound annual growth rate) of 3.3% from $22.3 billion in 2017.