Action camera company GoPro has signed a multi-year technology and equipment license with manufacturer Jabil. The later will leverage GoPro’s reference design and IP on third-party products and solutions, without GoPro’s label on it.
Action camera company GoPro has signed a multi-year technology and equipment license with manufacturer Jabil. The later will leverage GoPro’s reference design and IP on third-party products and solutions, without GoPro’s label on it.
“Early market feedback indicates strong demand in the enterprise action camera segment for applications in smart homes, military, fire, police, rescue and security,” said Irv Stein, vice president of Jabil Optics at Jabil.
With the agreement, GoPro’s motion-capturing technology is expected to be seen at various fields in the future. Examples include video conferencing, robotics, self-driving cars and security cameras in smart homes.
Both B2B or consumer products can possibly integrate GoPro’s digital imaging technology in the future under this partnership, only if they don’t compete with GoPro’s existing camera products.
GoPro has built up its relationship with Jabil since the GoPro Hero4, which was launched in 2014. The U.S.-based manufacturer operates 90 facilities across 23 countries in the world.
Financial terms in the agreement weren’t revealed.
Even though GoPro has one of the best action camera technologies in the world, the company has been struggling in performance. It’s tiny and powerful camera has made its fame in the mass market, however, consumers don’t buy action cameras every year like they do to smartphones.
Its stock price has been low for couple of years, and it’s been through a restructuring plan and laid-offs.
Recently, its latest model Hero6 is bringing profits. And, GoPro will gain a solid revenue and expand its presence in various industries due to this new agreement with Jabil.