GoPro Inc (NASDAQ:GPRO) announced the expansion of drones and virtual reality businesses at a recently held Code Conference. On the day of the announcement, the shares of the action camera maker escalated more than 7% trading $57. According to the company CEO, Nicholas Woodman, the virtual reality device will be available to the consumers by the end of this year, however; he did not disclose the prices.
Woodman also said that the company is planning to introduce a consumer drone product in the first quarter of 2016.
The virtual reality device to be introduced is a Six-Camera Spherical Array. You can easily mount it on the GoPro cameras for recording footage and viewing different types of virtual reality headsets such as Google Cardboard (GOOGL), Oculus (FB) and the Microsoft Hololens (MFST). The camera is being designed especially for the consumers and not for business purposes.
Spherical Universal Rig for Hero4 Cameras
Currently, GoPro is also working along with the quadopter manufacturers for developing a particular type of universal rig. The Spherical Array is a cube-shaped mounting rig and will be specially used for mounting the six GoPro Hero4 cameras.
Apart from accommodating the existing cameras from GoPro Inc (NASDAQ:GPRO), the rig will also be used for mounting an unlimited number of drones. The main idea behind the introduction of this type of virtual reality camera is that the video, when shot by six different cameras simultaneously and stitched together, will help to create an environment of virtual reality. These remote-controlled cameras would capture aerial views for providing an immersive video experience.
According to an analyst at the Oppenheimer & Co., Andrew Uerkwitz, it will be quite easier for the camera making company to enter the virtual reality market. Another analyst at the JMP Securities, Alex Gauna has said that it is a major opportunity for the company since there is a tremendous acceptance of this kind of products currently in the virtual reality market.
