GoPro shares fell down to $49.81 as Apple receives camera copy rights

You might also like

Tesla driverless system to use updated radar technology

12/09/2016

Apple to develop its own self-driving technology

10/09/2016

NEW YORK: GoPro shares have fell after Apple received copyrights which recommend it may be moving into the sports camera business.
One of the patents is for a wearable camera, a development that could pose a threat to GoPro, which went public last year.
In light of the announcement, shares in the popular camera-maker fell by more than 12%.
Apple’s patent application was filed in March 2012, and details how it would like to fit a camera onto bikes or scuba masks – with the potential to record video and sound underwater.
It is very similar in concept to that of GoPro’s cameras, which have become the must-have gadget for extreme sports aficionados who want to record their adventures.
GoPro shares reached a high of $93.85 (£61.84) in October, but now stand at $49.81 (£32.82) after the most recent fall. It is their lowest level in four months.
Apple has also been granted a patent for a system that could allow users to interact with a computer without touching a screen, mouse or keyboard.
This could see users controlling their devices by making swiping motions in the air, which are then interpreted using a camera.
Companies often patent ideas which never come to fruition, so the share drop could be premature.
Neither GoPro nor Apple have commented on the development.