Apple has patented an action camera which could compete against GoPro Hero cameras, causing the stock of the biggest action cam vendor to drop by about 15% in a single day.
One of the companies which could join the action camera industry is Apple. The iPhone maker has just been granted a patent for an action cam that can be mounted on various objects.
The patent is describing a “Digital camera system having remote control”. If it enters the market, then all action cam manufacturers are in serious trouble, as Apple’s popularity will definitely attract a lot of attention. The first “victim” is GoPro, whose stocks have dropped by about 15% once the story has been revealed by PatentlyApple.
Apple patents action camera, GoPro stock price goes down
The patent for the Apple action camera was filed at the US Patent and Trademark Office on March 12, 2012. The patent was updated in 2013, after the iPhone maker had acquired some of Kodak’s intellectual property.
It appears that the device will be a versatile one, which can be mounted on helmets, masks, bikes, surf boards, and even dog harnesses. This means that if it becomes available, then it will be usable in a broad range of applications.
The result is that GoPro, Garmin, Sony, Polaroid, and other action cam makers will have to up their game in order to make sure that Apple’s reputation will not hurt their revenue.
Although the Cupertino-based company has declined to comment whether it is developing an action camera or not, GoPro has already taken a massive hit, as its stock price has fallen by up to 15% in one trading day.
Apple action camera is waterproof and comes packed with WiFi
As with all modern devices, the action cam will come packed with built-in WiFi, allowing users to control the device from an iPhone. The WiFi connectivity can also be used to transfer files to an iOS smartphone for quick sharing on the web.
For the time being, it is unlikely that Apple will enter the action cam industry. The company will join the smartwatch market in the following months, courtesy of the Apple Watch, so analysts are claiming that the iPhone maker will not attempt to break the ice on two different segments at the same time.
Stay tuned for more details!