(Reuters) - GoPro Inc on Tuesday launched two new cameras including a ramped up version of its “HERO” line, as it battles competition from increased smartphone usage ahead of the crucial U.S. holiday sales season.
The company’s shares rose as much as 12% to $5.79.
The “HERO8 Black” was priced at $399 and a new dual lens GoPro MAX camera at $499. The company also slashed the price of its top-selling product “HERO7 Black”, predecessor to the new model, to $329.99.
GoPro launched the HERO7 cameras last year, helping the company report its first profit in five quarters.
In recent months, the company has also shifted a bulk of its U.S. bound camera production to Mexico to fend off tariff impacts.
Through its flagship HERO line and spherical camera Fusion, GoPro is trying to differentiate its premium priced offerings from smartphones with improved cameras, as it looks to lure back action junkies.
GoPro, for the first time, also launched some accessories for the HERO8 Black priced between $49.99 and $79.99, to help enhance some of the camera’s features.
Wedbush Securities analyst Alicia Reese said the launch of the accessories would “address the needs of vloggers, and it expands (the company’s) market beyond GoPro’s core enthusiasts – extreme athletes”.
The company said it would start shipments for HERO8 Black from Oct. 15.
Reporting by Ambhini Aishwarya in Bengaluru; Editing by Shounak Dasgupta
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