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GoPro exits drone market, cuts over 250 jobs, and drops price of Hero6 Black by $100

by on Jan.08, 2018, under Reviews


It’s a day of tough news at GoPro. In addition to confirming a report from late last week that the company would be cutting between 200 and 300 jobs (the actual number is at least 255), GoPro’s Preliminary Fourth Quarter 2017 Results release included several other cost cutting announcements, including: a price cut for the GoPro Hero6 Black to spur sales, CEO Nick Woodman reducing his own cash compensation to $1 for 2018, and the big one, GoPro will no longer make drones.

That last point is the most significant news, although not entirely surprising. GoPro’s Karma drone struggled to gain traction as DJI released drone-after-impressive-drone to compete with it, and Karma itself suffered a major recall after user reports came in that the drones were literally falling out of the sky during regular use.

In all, there are four major cuts coming in 2018, which GoPro estimates will save it $80 million in operating expenses:

  1. GoPro’s global workforce will be reduced from 1,254 employees as of September 30, 2017 to fewer than 1,000 employees worldwide.
  2. GoPro founder and CEO Nicholas Woodman will reduce his 2018 cash compensation to $1.
  3. GoPro will exit the drone market after selling its remaining Karma inventory. GoPro will continue to provide service and support to Karma customers.
  4. GoPro has lowered the price of its premium model, the HERO6 Black, from $499 to $399 as of January 7th.

Regarding its exit from the drone market, GoPro blames “margin challenges in an extremely competitive aerial market” and “a hostile regulatory environment in Europe and the United States” that the company believes will make the aerial market “untenable.”

“GoPro is committed to turning our business around in 2018,” said CEO Nicholas Woodman in the release. “We entered the new year with strong sell-through and are excited with our hardware and software roadmap. We expect that going forward, our roadmap coupled with a lower operating expense model will enable GoPro to return to profitability and growth in the second half of 2018.”

To learn more about GoPro’s business plans going forward, or if you want to dive into the company’s Q4 2017 financial results, read the full release below or visit the GoPro investor website.

Press Release

GoPro Announces Preliminary Fourth Quarter 2017 Results

SAN MATEO, Calif., Jan. 8, 2018 /PRNewswire/ – GoPro, Inc. (NASDAQ: GPRO) today reported certain preliminary financial results for the fourth quarter ended December 31, 2017. GoProexpects revenue to be approximately $340 million for the fourth quarter of 2017. Fourth quarter revenue includes a negative impact of approximately $80 million for price protection on HERO6 Black, HERO5 Black and HERO5 Session cameras, as well as the Karma drone.

GoPro expects GAAP gross margin for the fourth quarter of 2017 to be between 24% and 26%. Non-GAAP gross margin for the fourth quarter of 2017 is expected to be between 25% and 27%. Non-GAAP gross margin for the same period, excluding the price protection impact of $80 million and other charges of between $19 million and $21 million, is expected to be between 44% and 46%. GoPro expects GAAP operating expenses to be between $136 million and $140 million for the fourth quarter of 2017 and non-GAAP operating expenses to be between $118 million and $122 million for the same period.

GoPro ended the fourth quarter with cash and cash equivalents of $247 million, up $50 million over the third quarter of 2017.

“As we noted in our November earnings call, at the start of the holiday quarter we saw soft demand for our HERO5 Black camera,” said GoPro founder and CEO Nicholas Woodman. “Despite significant marketing support, we found consumers were reluctant to purchase HERO5 Black at the same price it launched at one year earlier. Our December 10 holiday price reduction provided a sharp increase in sell-through.”

Globally, HERO5 Black sell-through more than doubled in the two weeks following the December 10 price reduction, while HERO5 Session sell-through roughly tripled.

Sales of the newly introduced flagship HERO6 Black camera performed as expected during the fourth quarter. On January 7, GoPro lowered the price of its premium model, HERO6 Black from $499 to $399 to align with its good, better, best product strategy.

Initial uptake of GoPro’s newly launched spherical camera, Fusion, was better than expected during the quarter.

“GoPro is committed to turning our business around in 2018,” said Nicholas Woodman. “We entered the new year with strong sell-through and are excited with our hardware and software roadmap. We expect that going forward, our roadmap coupled with a lower operating expense model will enable GoPro to return to profitability and growth in the second half of 2018.”

2018 Products and Operating Expenses

In 2018, GoPro will continue to innovate with several new products aimed at new and existing customers. GoPro’s sharper focus will enable an $80 million reduction in operating expenses compared to 2017 levels, resulting in a target operating expense level of below $400 million for 2018 on a non-GAAP basis.

The lower non-GAAP operating expense target will be achieved through a variety of strategies, including:

  • GoPro is reducing its global workforce from 1,254 employees as of September 30, 2017 to fewer than 1,000 employees worldwide.
  • GoPro founder and CEO Nicholas Woodman will reduce his 2018 cash compensation to $1.
  • Although Karma reached the #2 market position in its price band in 2017, the product faces margin challenges in an extremely competitive aerial market. Furthermore, a hostile regulatory environment in Europe and the United States will likely reduce the total addressable market in the years ahead. These factors make the aerial market untenable and GoPro will exit the market after selling its remaining Karma inventory. GoPro will continue to provide service and support to Karma customers.

A restructuring of GoPro’s business will result in an estimated aggregate charge of $23 million to $33 million, including approximately $13 million to $18 million of cash expenditures as a result of a reduction in force, substantially all of which are severance and related costs, as well as approximately $10 million to $15 million of other charges, consisting primarily of non-cash items. GoPro expects to recognize most of the restructuring charges in the first quarter of 2018. GoPro will provide more detail on its 2017 results and 2018 outlook in its fourth quarter earnings report which will take place in early February.



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DJI announces Osmo 2 Mobile smartphone camera gimbal

by on Jan.07, 2018, under Reviews


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DJI has announced the Osmo Mobile 2, an updated version of its popular Osmo Mobile camera gimbal for smartphones. Though visually similar to the original model, the Osmo Mobile 2 adds some useful new features along with a more attractive price point.

The biggest change most users will notice right away is that the Osmo 2 Mobile no longer uses interchangeable batteries. DJI claims the new built-in battery will provide enough power for up to 15 hours of filming, which is probably more than most peoples’ arms will endure over the course of a day. Additionally, a new USB port enables the phone to charge off the internal battery while in use, preventing battery drain while filming, and can also be used as a power bank to charge other electronics.

Perhaps the most notable feature of the new Osmo Mobile 2 is a lower price: it will retail for $129, significantly less than the $299 price point of the original model

The new model also supports shooting in portrait orientation – perfect for people who want to create content that will primarily be consumed on mobile devices. It also includes a 1/4″ universal screw mount, making it possible to mount the Osmo Mobile 2 on a tripod or attach other accessories.

In addition to existing software features like ActiveTrack and time-lapse modes, DJI has added a hyper-lapse feature, as well as a zoom slider on the handle that will allow users to simulate the effects of a dolly zoom.

Perhaps the most notable feature of the new Osmo Mobile 2 is a lower price: it will retail for $129, significantly less than the $299 price point of the original model. It will be available for pre-order exclusively at Apple.com beginning on January 23, and directly from DJI and other authorized resellers beginning in early February.

If you’re attending CES 2018 in Las Vegas and want to try the Osmo 2 Mobile in person, DJI will be offering free daily ‘rentals’ of the device to attendees.

Press release:

DJI Reveals New Handheld Camera Stabilizers At CES 2018

A Redesigned Osmo Mobile 2 Turns Smartphones Into Smart Steadycams and Ronin-S Becomes DJI’s First Single-Handed Stabilizer for DSLR and Mirrorless Cameras

January 7, 2018 – DJI, the world’s leader in creative camera technology, introduced two new handheld camera stabilizers at CES 2018 – Osmo Mobile 2 and Ronin-S. Built for smartphones, DSLRs, and mirrorless camera systems, they give consumers, professional videographers and photographers new tools to capture smooth, steady videos and stunning photos wherever they go.

  • Osmo Mobile 2: The handheld smartphone camera stabilizer from DJI, redesigned for the storyteller in all of us. Using a lightweight design that supports portrait orientation, with simpler controls with cinematic zoom, a longer battery life for more filming, and intelligent features to help you share a professional-looking story wherever you go.
  • Ronin-S: DJI’s first single-handed stabilizer for DSLR and Mirrorless Cameras. Built for efficient setup and ease of use with a compact form and dedicated buttons to control camera settings and precise positioning, plus intelligent features for advanced shooting modes all designed to help bring a steady shot to any set.

“With the introduction of these two stabilizers, DJI now offers gimbal technology to help unlock the creative storyteller in everyone no matter what camera they’re using,” said Paul Pan, Senior Product Manager at DJI. “Osmo Mobile 2 offers the best in smartphone stabilization at an affordable price, and Ronin-S brings the quality of DJI’s professional gimbal technology to a new form factor that is perfect for run-and-gun filming using your favorite DSLR or mirrorless camera system.”

Osmo Mobile 2 – Redesigned for the Storyteller in All of Us

Osmo Mobile 2 is a smartphone camera stabilizer that captures smooth videos and high-definition panoramas with cinematic movement and incredible ease. DJI’s industry-leading three-axis gimbal technology cancels out movement in three directions so your video stays steady even if your hands shake or wobble, while DJI’s built in SmoothTrack technology detects and compensates for your movement of the camera to ensure a smooth cinematic shot every time.

Designed to be lightweight and portable, Osmo Mobile 2 is made from high-strength modified nylon and features a folding design that makes it perfect for all-day use. The two-way mobile clamp lets you easily pivot between landscape and portrait orientation so that you can chose the most engaging full-screen format for your audience. In addition, a 1/4” universal screw mount ensures compatibility with your favorite photography accessories, making Osmo Mobile 2 more versatile than ever.

Simpler controls let you use your phone’s camera like a professional camera with integrated settings for ISO, shutter speed and more. A new zoom slider lets you completely operate your smartphone camera from the handle and you can even produce dolly zoom, a visual effect usually created only on professional film sets.

A more powerful built-in battery system lets you film for up to 15 hours, over three times longer than the original Osmo Mobile’s battery. The new USB port enables phone charging during use and serves as a power bank for charging other electronics while on the go.

Smart software in the DJI GO mobile app unlocks intelligent photo and video features that help you create professional-looking content automatically. Videographers can use modes including ActiveTrack to automatically follow of subjects in motion, Motion Timelapse with up to five different camera positions, Hyperlapse to create dramatic time-lapse videos with the camera in motion, or stream live to popular social platforms like Facebook and YouTube. Photographers can expand their creativity with options such as Panorama, Long Exposure and LightTrail modes.

Ronin-S – Bring a Steady Shot to Any Set

Ronin-S is DJI’s first single-handed stabilizer for DSLR and mirrorless camera systems. Available in two frame sizes for either camera type, DJI’s powerful three-axis gimbal technology delivers smooth, shake-free video and crisp photos, adding a cinematic and professional look to your work.

Powerful high-torque motors support the most popular camera and lens combinations including the Canon 5D, Panasonic GH and Sony Alpha systems. Its stabilization system compensates for zoom lenses with higher magnification ratios and an external zooming barrel, while its advanced stabilization algorithms work with both in-camera and in-lens optical stabilization technology.

Capturing stabilized video has never been easier because Ronin-S was designed for easy setup and use. A new Push mode lets you adjust the pan and tilt axis by hand while the Ronin-S is powered on and axis locks speed up the setup process so you can spend more time filming and less time prepping your gear. Ronin-S has a comfortable, ergonomic curved design that helps capture smooth cinematic movements from upright to underslung positions without obstructing the camera’s display. Ronin-S also features DJI’s intelligent battery technology that can be hot-swapped during operation for extended shoots.*

Dedicated control buttons for the camera and gimbal let you toggle between SmoothTrack settings, record and stop the camera, and the high-precision joystick changes the camera position to help frame your shot perfectly. A new Sport mode allows for fast movements with tight and quick subject following speed.

Harness intelligent shooting modes on Ronin-S through the DJI Ronin mobile app to create complex camera moves automatically like Panorama, Hyperlapse, Track and CamAnchor that lets you designate specific camera positions in a scene and rotate between them on demand. Directly customize SmoothTrack settings with dedicated controls for responsiveness of each axis. Camera settings can be directly adjusted as well.**

Ronin-S is compatible with a variety of DJI Pro Accessories to capture any scene and expand your creative freedom on set or location. Supported accessories include a Focus Control Center consisting of a focusing dial and a screen allowing advanced gimbal and focus control without a mobile device, a vehicle mount solution, DJI Master Force, DJI Master Wheels, an external focus motor, and a cheese plate adapter so you can use your favorite third-party accessories. A dual-handle support will also be available for when an added level of comfort and stability is required.

Price and Availability

Osmo Mobile 2 retails for $129 USD and will be available exclusively for pre-order at Apple.com on January 23, 2018. Starting in early February, it will also be available at store.dji.com, DJI Flagship Stores, and DJI Authorized Retailers, with additional availability later in February at Apple Stores in select regions worldwide. For more information on all the new features and capabilities of Osmo Mobile 2, please visit www.dji.com/osmo-mobile-2.

Ronin-S will be available in the second quarter of 2018 from dji.com, DJI Flagship Stores, DJI Authorized Retail Stores, and DJI Resellers worldwide***. Pricing will be announced prior to availability. Additional information on Ronin-S can be found at www.dji.com/ronin-s.


Osmo Shield for Osmo Mobile

Osmo Shield is a coverage plan that extends the warranty of any Osmo series product by one additional year, including accidental hardware damage coverage, that covers up to one free replacement and provides repair solutions for two years. Osmo Shield is currently available in select countries, including China, the United States, and Canada.

Photos and Videos Available for Download

Osmo Mobile 2 photos: http://bit.ly/2CGwrPf

Ronin-S photos: http://bit.ly/2lXk4E8

DJI at CES 2018

Visit the DJI booth at CES to see the new Osmo Mobile 2 and Ronin-S, and experience the entire DJI product portfolio of camera drones and image stabilization systems. Onsite activities and promotion for CES attendees at the DJI booth include:

  • Rent an Osmo Mobile 2 for free each day
  • Compete in DJI’s daily flight simulator challenge to win a DJI Spark Fly More Combo
  • Register to enter a daily raffle for Ronin-S and receive a $100 USD discount coupon

DJI’s main booth is located in the Las Vegas Convention Center South Hall, Level 2, booth #26002. Drone flight demos will also take place at DJI’s booth in the Central Hall, booth #14710T.

*Can be utilized with dual-handheld accessory as well

**For supported camera models

***The Ronin-S products shown at CES 2018 are prototypes and the final specs and features may vary



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