Shares of personal camera maker GoPro fell 12 percent as trading volume doubled yesterday following the publication of a recently awarded Apple camera patent (via Bloomberg). Apple was granted US patent no. 8,934,045 yesterday by the U.S. Patent and Trademark Office for a remote control camera system powered by a wrist-worn device.
Originally filed by Kodak in 2012 and subsequently acquired by Apple in a much larger patent deal, the patent details a remote digital camera system that can be controlled by a smartwatch or phone. In its description, the patent seeks to address a wind resistance flaw present in select GoPro cameras that may lead to image artifacts.
According to Dougherty & Co. analyst Charlie Anderson, the GoPro stock plunge was led by investors concerned that Apple may encroach on the extreme action-adventure camera market currently dominated by GoPro. Investor reaction to this patent appears to have been overblown, however, as Apple patents a variety of technology innovations, most of which are not used in consumer products. And in this case, the technology wasn't even Apple's to begin with, making it even less clear whether the company has any intention of following up on it.
Top Rated Comments
You guyz..... so naive. Apple may file patents for a product it may not go to market with but that won't stop them from suing others for patent infringement. Or if they don't sue them, they will approach companies and demand something favorable, maybe a partnership, or face Apple's huge army of lawyers in a patent lawsuit. Apple employs the largest number of lawyers last i read. They are at least as much about snuffing out innovation elsewhere as they are about innovation in house. More legal snuff lately than innovation. If Go Pro wants to go near a watch that controls a camera (or whatever the patent was granted for which might be pretty obvious) then they will tell Go Pro to pay up or proceed at their own risk. Investors know that this may take a big chunk out of Go Pros ability to innovate. They know how much Apple likes to sue or leave open the threat of a lawsuit. It's why the stock price went down.
Or whatever, maybe 2015 will be the year of the rugged 2-inch iPhone with 4K recording.
actually, they are not. GoPros do come with a waterproof case, though.
someone also mentioned that Apple will not honor water damage. well, GoPro does this, too. unless you can prove that the case broke with regular use or you have dipped the GoPro in water using the skeleton case, they will also not honor the warranty ... true story from a lot of people in GoPro-centric forums :cool:
no new device here