The technology company will move part of the production of its cameras to the United States outside of China.
For the second quarter of this year, technology company GoPRo will produce its cameras from Guadalajara to supply markets such as the United States and Mexico.
“We are pleased to share that in the second quarter GoPro will increase production of cameras to the United States from Guadalajara, Mexico,” the company said.
During the GoPro results call, the company shared more information about its plans to move most of its camera production to the United States outside of China.
“We are excited about the opportunity to work with our partner in Guadalajara and although the fluctuation of tariffs drove the improvement in the efficiency of the supply chain; this approach has a strategic sense independent of rates, and we expect to generate significant savings with this movement, “said Brian McGee, executive vice president and chief financial officer of GoPRo.
GoPro will maintain camera production in China for markets outside the United States.
According to the Reuters report, the company reported a net income of 32 million dollars in the quarter ended on December 31, compared to a net loss of 55.9 million the previous year.
The company earned 30 cents per share, above analysts’ estimate of 26 cents, according to IBES data from Refinitiv.
Revenues increased 13% to 377 million dollars, surpassing the average estimate of the analysts of 374.2 million dollars, Reuters reports.
Source: Forbes
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