International-Bound Camera Production will Remain in China
GoPro, Inc. (NASDAQ: GPRO) today announced that it plans to move most of its US-bound camera production out of China by the summer of 2019 to mitigate the potential impact of inclusion on any new tariff lists. International-bound camera production will remain in China.
“Today’s geopolitical business environment requires agility, and we’re proactively addressing tariff concerns by moving most of our US-bound camera production out of China,” said Brian McGee, Executive Vice President and CFO of GoPro. “We believe this diversified approach to production can benefit our business regardless of tariff implications.”
McGee added, “It’s important to note that we own our own production equipment while our manufacturing partner provides the facilities, so we expect to make this move at a relatively low cost.”
GoPro will be showcasing its HERO7 line of cameras, including the best-selling $399 HERO7 Black camera, at CES in Las Vegas from January 8 – 11, 2019.
About GoPro, Inc. (NASDAQ: GPRO)
GoPro helps the world celebrate and share itself in immersive and exciting ways.