GoPro has embraced a new way to grow its bottom line: licensing deals.
The action camera maker has entered into a new licensing partnership with Jabil, a manufacturing services company. The idea is that Jabil will use GoPro’s design and intellectual property to make camera lenses and sensors for third-party products. They won’t be branded as GoPro products, but they will use GoPro technology, essentially. At this time, there is no word about what sort of products we can expect.
In a statement, GoPro’s chief technology officer said the company’s camera lenses and image sensors could be used to power everything from robotics to self-driving cars and even video conferencing. Jabil even sees potential uses cases in or for smart homes, the military, firefighters, and more. Both companies, which collaborated on the Hero4 and have worked together since, are speaking in broad terms, of course.
It’s important to keep in mind as well that they’ve announced this deal during a period in which GoPro’s stock is at an all-time low. Its sales are not doing too well, and its killed off its drone efforts and is facing criticism about whether the Hero6 is enough to keep it afloat.