|
Gopro Inc 's Comment on Competitors and Industry Peers
The market for cameras and camcorders is highly competitive and characterized
by frequent product introductions and rapid technological advances. We believe
the principal competitive factors impacting the market for our products include
quality, reliability and user experience, price and performance, design innovation,
brand recognition, marketing and distribution capability, service and support,
and corporate reputation.
We compete against established, well-known camera manufacturers such as Canon
Inc., Fujifilm Corporation, Nikon Corporation, Olympus Corporation, Rollei GmbH
& Co. KG and Vivitar Corporation, as well as large, diversified electronics
companies such as, Panasonic Corporation, Polaroid Corporation, Samsung Electronics
Co., Sony Corporation and VTech Technologies, and specialty companies such as
Garmin Ltd. We believe we compete favorably with these companies’ products.
Our durable and versatile product design facilitates increased functionality
and wearability and we offer a variety of mounts and other accessories that
enable a wide range of consumer use cases that are difficult for other competing
products to address. Further, we offer many professional-grade features at attractive
consumer price points, including our SuperView mode, which allows a user to
capture an immersive wide-angle perspective, and super high resolution video
capability. We also provide users with a suite of free desktop and mobile applications
that enhance the overall GoPro experience. Moreover, we believe we have achieved
significant brand recognition in our target vertical markets. We believe our
years of experience working with active and influential consumers contributes
to our ability to develop attractive products and establishes the authenticity
of our brand, thereby differentiating us from current and potential competitors.
Smartphones and tablets with photo and video functionality have significantly
displaced traditional camera sales. We believe that our capture devices enable
differentiated use cases from mobile devices. In particular, we allow users
to self-capture their experiences in even the most challenging of environments,
such as on and in water and in other environments where mobile devices would
be damaged, and to do so with their hands free to focus on the activity and
not the capture device. We believe that the small, rugged form factor coupled
with the professional quality video enabled by our capture devices makes them
ideal for uniquely capturing important moments of our users' lives. However,
it is possible that in the future the manufacturers of these devices may design
them for use in a range of scenarios and conditions. In addition, new companies
may emerge and offer competitive products directly in our category.
Overall company Market Share Q4 2020 |
*Market share calculated with total revenue.
GPRO's vs. Competition, Data
(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)
|