GoPro cuts 7% of its staff due to Poor Holiday Sales
GoPro announced that cuts 7% of its employees and warned investors that sales in the last quarter of 2015 were unexpectedly low. The official financial results will be announced in a few weeks, but preliminary estimates, revenues from the period are noticeably lower than expected. Instead previously estimated $500-$550 million, the company earned $435 million in the last three months.
GoPro revenues have dropped significantly compared to the last quarter of 2014, when the company accumulated $633.9 million. One reason for the low sales of GoPro is the lack of variety of exciting new products. In 2015 the company introduced only one new camera – Hero 4 Session, which high price further reduce the interest on it. GoPro hopes to regain consumer interest with his new drone, which maybe will shoot 360-degree video.