GoPro CEO Nick Woodman laid out a new vision for the action camera maker during the company’s Q2 2017 earnings call Thursday: Instead of competing with camera-equipped mobile phones, GoPro now wants to become an extension of the phone, and essentially market it to anyone sharing photos and videos on services like Instagram and elsewhere.
“GoPro’s biggest opportunity may be to serve as an untethered lense to the smartphone,” Woodman said. “Our goal is to seamlessly align a GoPro with a smartphone. Anything you capture with your GoPro automatically ends up on your phone.”
The goal of the company was to make the smartphone central to the GoPro experience, said GoPro COO CJ Prober. And Woodman said that the company plans to introduce new products specifically catering to that use in the future.
Woodman went on to tout the company’s early results in becoming more mobile-friendly. The company’s Quik app, which allows users to edit their GoPro footage on their mobile devices, was installed 5.6 million times during the second quarter alone. GoPro also recently launched a QuikStories feature as part of its main GoPro app that automatically generates shareable video highlights.
GoPro saw its business rebound during the second quarter, generating $296.5 million in revenue, compared to $220.8 million during the same quarter a year ago. The company’s losses declined to $30.5 million on an adjusted basis, compared to $91.8 million a year ago.
GoPro significantly reduced its costs, thanks in part to significant layoffs, and the decision to end an ambitious content initiative, at the end of last year.
GoPro has in recent months announced a number of new products, including a spherical camera capable of shooting 360-degree videos. The company has in the past frequently struggled to deliver newly announced products on time, but Woodman said Thursday that it will meet its deadlines this time around.
More to come…