Apple’s latest ad campaign, “Shot on iPhone 6,” uses iPhone photographers’ gorgeous still images and video to ask one question: Do you really need a standalone camera anymore? For many, the answer is no—and that shows in camera companies’ performance. Nikon’s camera sales were down 15% in 2014, Canon’s by 7.3%.
But that pain isn’t being felt universally among camera makers. One in particular is doing just fine: GoPro, which in April posted a 54% year-over-year gain in revenue, though its stock price is floating at about half its all-time high Monday after going public last June.
GoPro is succeeding in selling cameras where its bigger, older rivals are failing because it’s taking advantage of a major shift in consumer tastes. For many people, smartphones are now good enough to replace typical compacts, like the Canon PowerShot line. There’s no reason to carry a comparatively bulky camera if your pocketable…
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