Not convinced with other Drone makers present in the market, GoPro Inc (NASDAQ:GPRO) has decided to create one on its own that will be rolled out by as early as 2015. Yes, the maker of action camera has decided to dabble into consumer drone venture, which will compete with players like 3D Robotics, DJI and Parrot. Now, it is believed that there are multiple reasons in play for GoPro to test its success in the new product, which otherwise had the option of partnering with other drone makers to meet its objective.
Multiple Reasons of Venturing
The first and foremost reason for GoPro Inc (NASDAQ:GPRO) could be the need of diversification of its portfolio. Since camera and a drone go hand in hand, therefore, nothing could have been more appealing for the company, other than creating two complementary products. Secondly, GoPro does not have any cash scarcity.
It recently debuted in the markets and garnered sufficient funds to take care of its future growth. So why spend on partnerships when the funds could be deployed towards new products. More importantly, the company’s decision finds match with its ambition of becoming a media company. When drones are used extensively by a number of people to shoot their adventure, GoPro could find many fans through this route.
Enough of Opportunities
Consumer drones, being unregulated unlike commercial drones, is mushrooming with new players and new products every single day. Therefore, it will be like stepping out in a crowded area for GoPro Inc (NASDAQ:GPRO), but based on its brand image and market share, success is likely for this cam maker, particularly if it can get some marketing push from its athetic celebrities.
The market for consumer drone is beaming with opportunities and has yet to see many first-time consumers. Only after lapse of certain years will demand drone makers to worry about price, specifications and performance.