Camera company GoPro stops the production of drones. Also, more than 250 employees of the company lose their jobs.
That is what GoPro reports when it announces its provisional quarterly results.
GoPro sells drones through, among other things, its Karma brand. The company announces that it will leave the market once the current stock has been sold.
Closing is also associated with the closing of the drone division. GoPro plans to reduce its global workforce to less than a thousand employees. At the end of September the company had 1,254 employees.
GoPro states that the drone market is "extremely competitive" and that new regulations for drones within Europe and the United States have led to a "hostile" climate. The company promises to continue the support to current Karma owners.