With the proliferation of self-recorded adventure footage on social media, it’s hard to believe that camera-maker GoPro could be in financial trouble. And yet, that is exactly what seems to be happening. This week, GoPro announced that not only will will be backing out of the drone business entirely, but it will also be laying off around 250 employees as well. CEO Nick Woodman has slashed his own salary to $1 for 2018.
GoPro was founded in 2002. The company’s Karma drone—which costs around $800 and was designed to carry GoPro’s Hero 4, 5 and 6 cameras—was first announced in 2015. Deliveries began in 2016, but got off to a very shaky start after several of the drones lost power midflight and crashed, prompting a full recall of the product. The issue—which was discovered to be a flaw with the battery latch—was resolved and the Karma went back on sale three months later. GroPro has said that once the current drone inventory is sold, no more will be manufactured, though they will continue to support the product. For the moment, it looks like the company plans to focus on producing its much-loved cameras, used by many pilots to catalog and share their inflight experiences.
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