GoPro & Jabil Enter Into Technology & Equipment License Deal
Zacks Investment Research | Mar 22, 2018 09:53PM ET
GoPro, Inc. (NASDAQ:GPRO) recently announced a global, equipment license and multi-year technology agreement with Jabil Inc. (NYSE:JBL) . The collaboration will make innovative, GoPro enabled products and services available from some of the well-known hardware and software companies.
The partnership will enable Jabil to leverage GoPro's advanced reference design and IP for producing camera lens and sensor modules, which will be incorporated into GoPro-approved third-party products and solutions. The collaboration will encompass a range of products and services offered by each company including certain digital imaging as well as consumer products. Notably, the agreement builds on the company’s longstanding relationship with Jabil to offer high-quality, advanced products to customers.
Existing Business Scenario
The past few years have not been a smooth ride for GoPro and its troubles are far from ending. Multiple layoffs, operational stumbles, decaying fundamentals and a bad track record of missing targets have hurt the company’s brand image in the market. Moreover, of late, the company’s market share has been threatened by lower-cost alternatives from established industry players as well as new entrants. Not surprisingly, this Zacks Rank #5 (Strong Sell) stock has lost a whopping 57.3% in the past six months against the Zacks Investment Research
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