Rumor: Xiaomi Wants To Acquire GoPro
According to recent rumors reported by The Information, it appears that Chinese brand Xiaomi is aspiring to acquire GoPro, an American manufacturer of action cameras. The news doesn’t come as a complete surprise since GoPro’s CEO has admitted in the past that they’d be open for a takeover by a larger company.
The site claims their source has knowledge of Xiaomi’s long-term plans and roadmaps. Reportedly, Xiaomi wants to acquire GoPro, but the price must be good. GoPro CEO Nick Woodman said he would consider either working with another company or selling GoPro altogether – although he has expressed his wish that GoPro would continue to operate independently in the event of a takeover. Reportedly, GoPro tried selling to drone manufacturer DJI as well, but the drone company was not interested in the action camera manufacturer.
GoPro has been through some troublesome times lately, as they’ve exited the drone market and are facing heavy competition in the action market, mainly from Xiaomi’s cheaper alternatives. The stock price of GoPro has already decreased about 35% in 2018. Investors are now hoping that a restructure or takeover of the company will be beneficial to the stock price, something that would likely be the case if Xiaomi and GoPro can reach an agreement. Rumor: Xiaomi Wants To Acquire GoPro (