GoPro Expanding $199 ‘Entry-Level’ Hero Action-Cam to Walmart, Target
The $199 “entry-level” GoPro Hero action camera, introduced toward the end of Q1, “is selling in line with our expectations, and we are expanding distribution to large retail partners like Walmart and Target" in Q2, said GoPro CEO Nicholas Woodman on a Thursday earnings call. GoPro also is “driving down weeks” of inventory supply, “clearing the way for new, higher-margin products in the second half of the year,” said Woodman. GoPro in Q1 led the U.S. action-cam category at all price points at the retail point of sale, with 86 percent unit share and 95 percent dollar share, said Woodman, citing NPD data. Q1 results were released Thursday after regular U.S. markets closed. GoPro shares closed 9.9 percent higher Friday at $5.45.