GoPro to slash camera lineup amid financial woes

PanARMENIAN.Net - Coming to terms with a rather miserable financial quarter, GoPro CEO Nick Woodman just announced that the company will cease sales of several action cameras - including its cheapest model - in April, The Verge reports.

Moving forward, GoPro's lineup will consist of the Hero 4 Black ($499.99), Hero 4 Silver ($399.99), and Hero 4 Session ($199.99). Everything else, including the Hero+ LCD ($299.99), Hero+ ($199.99), and regular Hero ($129.99), will be discontinued.

Woodman did confirm that a new flagship model, the Hero 5, will debut in 2016, as will the company's forthcoming Karma drone, which records 4K video footage.

The slimmed down product portfolio comes after GoPro reported $436.6 million in revenue for Q4, a 31 percent drop from last year. GoPro's stock is being battered in after-hours trading.