GoPro is today announcing a multi-year deal with Jabil that aims to put GoPro technology in everything from police body cameras to video conferencing solutions. Through this agreement, Jabil will use GoPro’s design and intellectual property for use in approved third-party devices. This is the first time GoPro is letting other manufacturers build products with GoPro parts. The products will not be branded GoPro at this time.
GoPro has worked with Jabil since the GoPro Hero4, which was released in 2014. Jabil is a United States-based manufacturing firm that operates 90 facilities across 23 countries. Financial terms of this new agreement was not announced.
Irv Stein, Jabil’s vice president of Jabil Optics, said in a released statement that it sees “early market feedback indicating strong demand in the enterprise action camera segment for applications in smart homes, military, fire, police, rescue, and security.” And that’s just the beginning.
GoPro CTO Sandor Barna sees opportunity for GoPro to provide the lens and image sensors for video conferencing solutions, robotics and self-driving cars.
It seems GoPro is ready to expand from the action camera market and leverage its brand in other segments. This agreement allows for licensing a range of GoPro’s products and service including digital imaging and consumer products. At this time, third party action cameras are not allowed as the agreement only covers products that do not compete with GoPro’s products.
GoPro, who’s stock is at an all-time low of less than $5.00 is struggling to stay afloat. The company just laid off a good chunk of its drone division and has struggled to find its footing even as the company releases new and improved products. This move could put GoPro on solid ground. Even though GoPro undeniably makes the best action cameras on the market, the company keeps losing value. It’s a smart move to leverage its brand through a partner to brand out into new markets.