Continuing with his technological prowess, GoPro, Inc. GPRO has recently set an important milestone by surpassing the mark of 1,000 patents granted. Since its formation in 2002, the leading manufacturer of action cameras has been leveraging the latest technologies to integrate them into its products and solutions. This, in turn, improved the video experience of millions of users, including content creators, around the world.
Patents are considered a vital component of the GoPro business. The company holds and designs several innovation patents that help customers create and share content and photos on the back of cutting-edge cameras, accessories and software. GoPro patents include operating software and firmware, image processing, and distribution software, to name a few.
Thanks to industry-leading advances, GoPro has been taking steps to consolidate its position in the growing virtual reality (VR) market. It also announced additional software improvements with its new GoPro VR app. The company partners with technology partners such as Adobe Inc. ADBE and content platforms like Facebook, Inc. FB to optimize the immersive image video experience.
The app will allow content creators to generate revenue from their content, and GoPro may license this content to global brands. GoPro has been working diligently to spread its popularity across the spectrum through focused and successful marketing efforts.
Last month, the technology giant obtained a patent from the U.S. Trademark and Patent Office for systems and methods in an attempt to determine the risk of flight by unmanned aerial vehicles. Shares of the tech giant rose 1.8% on Aug. 31 after the news broke, prompting positive sentiment in investors. The latest achievement allowed GoPro to increase its U.S. patent portfolio by raising the account to more than 1,600.
GoPro aims to translate a healthy boost to your business, along with controlled costs, into growth and profitability. The company is optimistic about its prospects, mainly due to the strong demand for its products in the end markets. It has improved the Plus subscription service through user benefits and awareness.
It intends to transform from a “camera maker” to a “content maker” and has taken significant steps to diversify into top-tier businesses, including video editing and virtual reality. It invests in merchandising and retail advertising to drive a greater brand presence and continue to innovate. In addition, it aims to expand its footprint in emerging markets such as India and focuses on expanding customer relationship management efforts to expand the customer base.
Shares of Zacks Rank # 3 (Hold) have risen 153.4% compared to industry growth of 41.7% last year.
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Sonos pulled off a final fourth-quarter earnings surprise of 297.3%, on average.
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