Apple patent reveals possible action camera, bringing panic over fate of GoPro

GoPro's shares plunged 12% when Apple's potential sports camera was revealed

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The Independent Tech

Apple could be planning its own sports camera, as revealed by a patent granted yesterday that caused a panic in GoPro shares.

Among a slew of patents granted yesterday, Apple was granted one for a wearable camera with a remote control. The patent was filed in March 2012, but granted yesterday.

GoPro shares plunged 12% on the news, amid worries that Apple could damage its signature action camera line with its own attempt to get in on the market.

The patent details a camera plus a remote control with a status display, a battery supply and user controls. But apart from that it is mostly vague about what exactly the camera would look like, and Apple files for a great many patents ever year, many of which never come to anything.

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Nick Woodman, founder and CEO of GoPro kisses a GoPro during the company's initial public offering (IPO) at the Nasdaq Stock Exchange on June 26, 2014 in New York City

 

GoPro completed its IPO in June, and has traded well since. While the fall in price was prompted by the Apple news, it was made worse by a worry that many investors would sell their shares when a restriction on doing so is lifted next month.

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