Wearable camera maker GoPro is cutting around 100 jobs after its Q4 2015 sales forecast fell short of its expectations; revenue forecast was $435m, instead of the $500m to $550m it forecast in the past 12 months. GoPro has dropped 71% in October. Disappointing sales of its action cameras over the holiday season were a major factor behind the lower forecast, as well as the decision to cut the price of its Hero4 Session camera. The firm has also been hit by stiff competition from cheaper devices from Chinese rivals, such as Xiaomi.
Wearable camera maker GoPro is cutting around 100 jobs after its Q4 2015 sales forecast fell short of its expectations; revenue forecast was $435m, instead of the $500m to $550m it forecast in October. GoPro has dropped 71% in the past 12 months. Disappointing sales of its action cameras over the holiday season were a major factor behind the lower forecast, as well as the decision to cut the price of its Hero4 Session camera. The firm has also been hit by stiff competition from cheaper devices from Chinese rivals, such as Xiaomi.