Xiaomi Inc., is often referred to be the red Apple in China. Though it may appear that the company is trying to fall from the action camera tree, and land into the hands of new users – the company could be mistaken for being an orange all together.
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Early reports erupted anxious feelings by the Chinese smartphone manufacturer Xiaomi, as it was preparing to release an action camera in the Chinese market. By now, there are rumors that plans may also expand to North American counterparts. To the naked eye, it looks like the Yi camera is really like the GoPro HERO – comparing apples to apples respectively. One might go as far as saying the Yi is a superior product to the GoPro HERO.
There is a huge “but” following that claim, because there is much more to consider about these two companies. Attempting to make its stand as an all-in-one company, Xiaomi really is a smartphone company that hoped to better its predecessor Apple. As a brand, the Chinese company is seen making things like air purifiers, network routers, external batteries, blood pressure monitors, and you name it. It is becoming clear that a company like Xiaomi, entering the action camera market has everything to do with profits, and dividends for its investors. Thus, forgetting the true rapport for the action camera user themselves.
Product copying has been going on for decades, perhaps even a century. With the immense progress and technological advance coming out of GoPro headquarters in San Mateo, CA, there is without any doubt the HERO maker is going to outperform its competitors. In recent finance news surrounding GoPro, short selling has been beating on the GPRO symbol repeatedly. The stock is currently trading at its lowest level since July 2014. Yet there has not been much rebutting from GoPro to counter Xiaomi and its intentions. When that happens, GoPro lovers will continue to persevere and prosper.
In summary:
- GPRO stock is at its lowest since July 14, but rebounded on its way to its all-time high ($98.47)
- There’s no word on whether the Yi will ever come to the USA
- GoPro does not believe the competition will impact their market share
- GoPro has captured more than 90 percent of the action camera market share
- GoPro is a brand that defines a category, like Band-Aid or Uber, and is growing very fast
- Xiaomi is like the jack of all consumer electronic technologies, but is a master of none
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Featured Image: Xiaomi
