Credit: Shutterstock photoLeading portable video camera maker, GoPro, Inc. 's GPRO CEO and founder Nicholas Woodman took the participants at the JPMorgan Technology, Media and Telecom conference by surprise with his latest ambitions. The CEO shared his intention to refer to GoPro as a "content" firm and not just a "hardware company" as it is widely known as.
To attain this dream, the company disclosed an upcoming video capture and editing software. The content sharing application, which is in last stages of development, is likely to be launched in the near term. The launch of this software will further boost its camera popularity.
This unnamed software is designed to aid GoPro's camera users share their video with a basic editing facility. This software, which is referred as GoPro's version of the iTunes application, also enables video sharing directly via clouds that can be accessed through any device by GoPro account holders.
Bottom Line
We view the transformation of GoPro from the camera maker to content maker as a strategic fit amid the emergence of spherical media. Notably, GoPro that is currently highly focusing on media software advancement increased its spending on these by over 100%. Additionally, GoPro's last month buyout of a leading French virtual reality and spherical media solution company - Kolor - will also add colors to its vision. Kolor specializes in offering advanced software solutions that aid users to merge multiple photographs or videos to produce high-resolution panoramic or spherical content.
Showing confidence in this Zacks Rank #1 (Strong Buy) stock, over the last 30 days analysts have raised their earnings per share estimates for 2015 and 2016 by 8.5% and 12.2%, respectively to $1.15 and $1.47, respectively.
With such initiatives, GoPro is now giving threat to top technology firms like Google Inc. GOOG , Facebook, Inc. FB and Microsoft Corporation MSFT that are prying to attain a dominant position in the virtual reality world.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
