Apple just patented a wearable camera that’s better than GoPro

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gopro
GoPro shares have dropped 42 percent since hitting an all-time high in October. Photo: Buster Hein/Cult of Mac

Shares of GoPro stock plummeted as much as 15% this afternoon after it was announced that Apple was awarded a patent that could put the wearable camera company in serious trouble.

Apple was granted a series of 34 patents by the U.S. Patent and Trademark Office today relating to a camera system that can be mounted to helmets and scuba masks and controlled remotely. That patent specifically mentions weaknesses in GoPro’s system, which has sent investors worrying that Apple is aiming to crush the sports camera giant.

Apple files thousands of patents a year, many for products it has no intention of bringing to the market, but that hasn’t stopped the stock market from bailing on GoPro today when it was found that Apple’s patented camera system can also be used to record video and sound underwater.

Apple filed its patent in 2012 and incorporated some of the technology in purchased from Eastman Kodak in November 2013. Moving into the action cameras market would seem like an odd move for Apple which focuses on dominating multi-billion dollar markets. However, Apple just topped Nikon to become the second most popular camera maker in the world. Maybe an external camera you can beat up and can control with your iPhone is inevitable.

GoPro shares have now lost 42 percent of their value since reaching an all-time high of $98.47 in October 2014. Despite the huge drop the stock is still up 73 percent since its IPO in June 2014.

Source: Recode

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  • Jeo Ten

    “Moving into the action cameras market would seem like an odd move for Apple which focuses on dominating multi-billion dollar markets.”

    I need not remind the author (or perhaps I do) that Apple has created billion dollar markets as well. The world is changing. Past assumptions are moot.

  • PK070205

    “Apple just patented a wearable camera that’s better than GoPro”

    Wow, Apple poduced something better than GoPro before even making a product that would compete with GoPro.

  • Leovinius

    Good. GoPro could do with the competition. Their customer service is very poor (and I’ve lost 3 of their units so far, I should know), they changed the focal point of the Hero4 and flat out denied it, their units have heat problems and are way too expensive (although the entry level unit they now have is quite affordable). Nothing like a bit of competition to shake things up. (Same goes for Apple, by the way.)

  • digitaldumdum

    “Apple just patented a wearable camera that’s better than GoPro”

    Pretty bold (and silly) statement there, Buster, considering it exists only as patents, and not something that has even been made yet.

  • james

    Its still a crapple will never have one

    • Totally explains your presence on a site called “Cult of Mac.” Totally.

      • Tom

        Article got picked up on Flipboard and other tech oriented sure. so will probably have more views by non apple fans than normal and comments with a headline like that.

    • digitaldumdum

      Then don’t, silly kid. Just one more for the rest of us.

  • araczynski

    i’ve always found the gopros to be the ugliest/bulkiest fracking things ever imagined. the concept in general could definitely use some Apple style engineering.

    • MicroNix

      Bulkiest? Are you nuts??

      • Kim Sanderhoff

        Compared to how many features a smartphone has a GoPro is actually surprisingly big. Look at how thin and Iphone 6 is and it has a screen, a faster cpu and a better battery. There are actually competitors out there now, such as the Sony action camera, that are smaller than the Gopro.

      • araczynski

        like Kim said, for what it is and what it does, yes, its way too big. the reason for this of course is because they use older/cheaper technology (usually implying less compact components) to keep their profit margins high. which is a proven strategy for chaching if you don’t have any real competition.