A smoother ride might be in the offing for GoPro Inc. (NASDAQ:GPRO) according to CEO, Nick Woodman, who maintains the company had one of the best rides in terms of product sales last December. During an interview on CNBC, Woodman said the company was planning on becoming a global entertainment company and not a one product company with attention also shifting to international markets in pursuit of growth opportunities.
GoPro Inc. (NASDAQ:GPRO)’s sentiments in the market changed soon after the company climbed from lows of $24 a share at the IPO with many investors raising concerns that the company might be overvalued. Woodman remains unconcerned by the recent drop in the market reiterating that the company is set to have its best run, this year.
“For us and our customers and our retailers it was a GoPro Inc. (NASDAQ:GPRO) Christmas. It was the best product introduction that we have ever had. […] We are really pleased with how the quarter went,” said Mr. Woodman.
GoPro impressive run in terms of sales comes down to the fact that its products are distributed by over 30,000 retailers all over the world something that continues to give it a competitive advantage among peers. Competition is expected to offer the biggest challenge this year with the likes of Sony Corp (ADR) (NYSE:SNE) reported to be developing products in the space.
Woodman is not fazed by the competition, maintaining that focus now shifts into expanding GoPro Inc. (NASDAQ:GPRO) into becoming more of a global entertainment media brand.
“Sony Corp (ADR) (NYSE:SNE) has been competing with us for three years; I think people forget that. […] What people fail to realize is that we’ve had these competitors for years. We have just done a better job of staying ahead leveraging the brand, leveraging the content and scaling GoPro far beyond hardware,” said Mr. Woodman.
GoPro Inc. (NASDAQ:GPRO) is also looking to expand into international markets where future battle in terms of competition are poised to be fought in pursuit of growth opportunities.
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