Xiaomi with its limited reach has been placed on the list of top 5 smartphone brands in the world. It is also leapfrogged Fitbit and Apple to become the top wearable brand. As you can see in our “Everything Xiaomi” list, Xiaomi sells wide-range of products in China. Only a few of them are sold in the international markets. The company had set its foot in the camera market with its Yi-branded action cameras. Later, the company also launched Yi Mirrorless cameras in China.
However, GoPro is a well-known brand all over the world for action cameras. It did miserably fail to compete with DJI and now, it completely got rid of that idea after launching its one and only drone called Karma. The premium action cameras from GoPro are much better than the cheaper alternatives from China. But, the company hasn’t been making any money out of this niche. With the newly launched GoPro Hero 6, the company also ditched 3rd-party chips in favor of its custom-made GP1 chip.
Even the GoPro’s CEO Nick Woodman has earlier mentioned he is open to a deal if there was an opportunity to merge with a larger parent company. He then continued saying, the new parent company could help GoPro in scaling their business and provide a better return on investment. According to Bloomberg, Xiaomi is interested in buying GoPro but not want to overpay. While GoPro is valued more than $10 billion at its peak, its now fallen to less than $1 billion.
If everything goes as expected, Xiaomi will be purchasing GoPro for anywhere around $1 billion. Out of this whole discussion, the GoPro share has seen an upward spike. While Xiaomi made investments in Chinese and Indian companies, GoPro will be company’s major international deal. Let’s wait and see, if GoPro lands in the hands of Xiaomi or not.