Apple Wearable Camera
There’s a new player on the portable camera market and already GoPro’s shares (leader of the market) have already fallen by 15%. Apple Inc is the new presence on the wearable camera market after they were granted the patent for such a camera. The new camera is supposed to do all that any other action camera does.
Apple Inc’s move into this segment of the market might mean a lot of trouble for all manufacturers currently occupying it. However they have only received the patent so it might take quite a while until they will actually release something on the market.Alex Gauna, analyst for JMP Securities, said that this product is not a logical next move for Apple at this moment.
Another analyst, Michael Pachter, said that the new Apple wearable camera will have no more impact on the activity of GoPro than the iPhone had on the camera manufacturers business. This means that probably they will sell a few less cameras however this will not affect the overall sales.
What Apple should be taking in consideration is that this new wearable camera of theirs will have to fight big competitors, including GoPro and Polaroid Cube. GoPro has a very strong fan base and is endorsed by Shaun White and Kelly Slater who appeal to most of the people in the market for action camera.
Also there is an entire community created on YouTube buzzing around the GoPro so Apple will have a very heavy competitor. This wearable camera will mostly appeal to Apple fans and might have limited success outside that zone.