Shulou(Shulou.com)11/24 Report--

CTOnews.com, May 31 / PRNewswire-FirstCall-Asianet /-- GoPro announced a 20% drop in sales in the first quarter of 2023, its first loss in the past two years, with a first-quarter loss of $29.9 million, a loss of 19 cents per share, and revenue of $174.7 million, down from $216.7 million in the same period last year.

Affected by the collapse in sales, GoPro recently announced that it will adjust its pricing strategy and reduce the prices of all its product lines to the pricing level in the middle and later period of 2020.

▲ Touyuan GoPro official website GoPro said that the price of most models will be reduced by 50 to 100 US dollars. The price of the flagship Hero11 Black, for example, will fall from $499.99 to $399.99. At the same time, GoPro also decided to restructure its pricing system, reducing the subscription price of GoPro subscription service to $24.99 for the first year and $49.99 for renewal the following year. It also cancels the discount privilege previously enjoyed by GoPro subscribers, and now anyone can enjoy the discount privilege price without paying.

The price cut on ▲ 's GoPro website also had a negative impact on GoPro's shares, which fell about 6 per cent after Tuesday's trading. GoPro's shares have fallen more than 11.7% so far this year.

Nick Woodman, founder and chief executive of GoPro, said: "We were forced to raise prices under the challenge of the previous epidemic, but now that these pressures have eased, we are pleased that everyone can enjoy the excellent performance of GoPro."

In addition to price cuts, GoPro focused on selling products to users online during the outbreak. At present, GoPro executives also hope that GoPro products can re-enter the retail channel, so they are contacting retail stores and making related efforts.

CTOnews.com Note: GoPro was founded by Nick Woodman, a company that specializes in developing and producing high-definition video equipment and sports cameras for extreme sports. Its latest product, HERO 11 Black / Back mini, was released on September 14, 2022, with prices starting from 3498 yuan and 2998 yuan respectively.

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