January 12, 2018
GoPro, the well-known leader in the action camera business, has announced it is going to sell the drone portion of its business, and is also looking to partner with another company for its remaining service lines.
Its drone line called Karma will be discontinued, with the company citing heavy regulations and profit margin challenges as the reasoning behind the decision. It first released the drones for its cameras in September 2016, and had faced an uphill battle since then as there were production delays and the competition with DJI proved to be no easy feat to counter.
According to CNBC, GoPro is consulting with JP Morgan Chase to potentially sell the business.
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