From CNN Money
Layoffs, new cameras and a strategy shift. Nothing seems to be working for GoPro, which has plummeted to yet another all-time low.
After posting a huge loss last quarter, the company fired its chief financial officer and slashed its product lineup to just three different cameras.
On a conference call with investors, Woodman acknowledged concerns that GoPro can't expand beyond its niche market of people who want action cameras. He said that he's not concerned about GoPro being a niche -- instead, he says the company is focused on helping make GoPros easier to use for existing customers.
"We recognize the need to develop software solutions that make it easier for our customers to offload, access and edit their GoPro content," he said.
He also said GoPro would only sell just three cameras in the future: Hero 4 Black, Hero 4 Silver, and Hero 4 Session. It's killing off its cheapest, $130, camera called the Hero. It will also stop making the Hero+ LCD and the Hero+.
But the company isn't totally giving up on expansion. GoPro will continue with its plans to launch the Hero 5 this year as well as its new Karma drone. It also is working on virtual reality products.
"In 2016 we are committed to delivering a breakthrough -- the breakthrough experience we've all be waiting for," Woodman promised. "It's against this commitment that you can judge our performance this year."
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