- A talk with the CEO of top GoPro (GPRO -5.8%) rival iON Cameras left Citi's Jeremy David "incrementally more cautious on GoPro with 2015 revenue growth of 22% in our model potentially at risk given a likely slowdown in the category post the HERO4 launch and increased competition which could put pressure on ASP/mix."
- David argues iON has the action camera market's most comprehensive portfolio, and notes its hardware is available in 6K stores (inc. 2.1K Wal-Mart stores) this holiday season (up from just 150 last year), and is set to reach 10K stores in 2015.
- iON's cylindrical cameras are more compact than GoPro's HERO cameras, but also lack displays and some of the physical controls found on GoPro's hardware. GoPro has thus far fought off competition from major electronics brands such as Sony, Panasonic, and Garmin.
- Both GoPro and Ambarella (AMBA -5.9%) remain close to their Thursday lows.
- Earlier: GoPro, Ambarella sell off in spite of market rally
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