Shares of leading portable video camera maker, GoPro Inc. (GPRO), surged 7.8% on yesterday's closing, following the company's announcement of going retail. The company launched its much hyped HERO4 cameras and accessories which hit the world's leading specialty consumer electronics retailer Best Buy Co. Inc.'s (BBY) website on Oct 5. Notably, the GoPro-Best Buy collaboration dates back to 2010.
The decision to expand its retail presence comes at an opportune time as GoPro intends to cash in on the upcoming holiday season. Meanwhile, Best Buy's multinational presence with offerings such as consumer electronics, home office products, entertainment software, appliances and other related services are expected to boost GoPro's sales further. The HERO4 cameras will be the main attraction of GoPro's significantly extended in-store footprint and will be displayed in the company's units, which are the largest of their kind. The display units will be exclusively available in about 500 Best Buy stores and GoPro intends to enhance in-store presence by threefold with its 12-foot Display and 40" Monitor to enhance consumer experience for the Holiday season.
The 6-foot high display units will allow greater visibility for shoppers. GoPro will also have large monitors to display a variety of videos, which include some of the world's most widely watched user generated content as well as the company's own award-winning productions.
The other benefits that this massive launch provides are increased camera exposure and a wider range of accessories offerings, providing customers better access to GoPro products.
GoPro is a portable video camera maker offering cameras that can be attached to moving objects or even people. These devices are specially used by sportsmen or sky divers to capture intricate details of a sporting episode.
GoPro currently has a Zacks Rank #3 (Hold). Some better-ranked companies in the audio/video products segment include Skullcandy, Inc. (SKULL) and Alps Electric Co. Ltd. ( APELY ), both sporting a Zacks Rank #1 (Strong Buy).
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