Following a series of layoffs in the company, GoPro has just announced that it will be discontinuing its drone business. This comes after the announcement of its latest numbers that showed that the company is financially struggling.
It was said that GoPro was expecting to earn about $470 million in the last quarter of 2017 but just earned $340 million. That was still better than the previous year, but shy of what the company was expecting to earn.
Even after cutting the prices of the Hero5 and the recently released Hero6 camera last holiday season, it only barely managed to gain a profit.
But GoPro has indeed confirmed that it will be discontinuing its drone business no thanks to the Karma drone. Remaining stocks will be sold until it finishes, but it GoPro won’t be making anymore. This comes after the initial recall that saw many Karma drones that keep dropping aster a few minutes in flight.
The drone business is indeed a competitive one and is already being dominated by companies such as DJI. The recall also didn’t help the sales of the Karma, where customers simply favored other brands.
If you owned the Karma drone, worry not since GoPro promised to continue service and support for the device as long as possible – just don’t expect them to make a Karma 2.