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.
Tesla driverless system to use updated radar technology
WASHINGTON: Electric carmaker Tesla announced Sunday it was upgrading its Autopilot software to use more advanced radar technology. In a...