GoPro delays Karma for another lifetime

Centre_of_wheel_of_lifeWearable camera outfit GoPro is  delay the launch of its drone, Karma, until the holiday shopping season.

The drone, which was expected to release in the first half of the year, was seen by analysts as key in turning around the company’s fortunes. The move to delay the drone’s launch is a big surprise.

GoPro claims that it wants to work on the features but di not did not explain the delay and why they did not notice any problems months ago.

GoPro is facing pressure from the improved video-shooting abilities of smartphones that are likely affecting sales of traditional cameras.

The company’s revenues halved to $183.5 million in first quarter ended March 31.

GoPro said it shipped 701,000 cameras in the quarter, a 47.8 percent drop from a year earlier.

The company posted a net loss of $107.4 million, or 78 cents per share, compared with a profit of $16.8 million a year earlier.