It’s been two years since camera maker GoPro went public. Yet, since then, its share price has dropped about 56%. Now, all eyes are on the company’s much-anticipated new product: the Karma.
The hope for Karma is that the new selfie drone will help reinvigorate sales (and share prices) for the once-high-flying company.
GoPro officially announced the Karma’s availability at a media event in Lake Tahoe, Calif. on Monday morning. In a massive black tent set up on in the parking lot of the Squaw Valley Ski Resort, the company’s CEO Nick Woodman wowed members of the press and analysts with a dramatic unveiling of the drone. He opened a small backpack and took out the grey and white Karma, then directed everyone’s attention to a video showcasing what the new drone can do. (Hint: Film you from above while you’re skiing or surfing or doing just about anything.)
In addition to the drone, the San Mateo, Calif.-based company also announced a refresh to its HERO5 line of cameras (available October 2) and a suite of new software aimed at making it easier to capture, edit, and share GoPro content.
But the Karma, naturally, was the biggest attraction. GoPro boasts the new drone features an “out-of-the-box experience unlike any other drone in the market.”
The Karma device is relatively compact and, yes, folds into a backpack. It comes with a game-style controller that includes a touch display, making it possible to fly without using a separate device to see what the drone sees. There’s also an image-stabilization grip that can be handheld or mounted to vehicles or gear. GoPro says this enables users to capture smooth, stabilized video during almost any activity.
The drone will be on sale starting October 23, starting at $799 on its own. Additional purchasing options include $999 when bundled with the HERO5 camera and $1,099 with the HERO5 Black.
In true Woodman style, the CEO was short on more details but big on fun. “Get out there and live a big life everybody,” he told the audience. “That’s what it’s all about.”
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Even if the excitement—and, of course, the orders—for the Karma end up being enough to offset GoPro’s recent decline, the company will need to keep reinventing itself in order to keep selling. Not only is it in the tough hardware business, but it also now has to live up to the pressures of being a publicly-traded company.