Back in January, reports broadcasted that action camera giant -GoPro- potentially had a new competitor. This purportedly induced a 12.7% decline in their stocks, after rumor spread of Apple being reassigned a patent that led many to believe the multinational corporation and technology laureate was soon to be a competitor in a market dominated by GoPro since its inception. Just the shear mention of Apple perhaps carving out a niche as an action camera producer led share holders to pullout with strategic immediacy, most likely evoked by tech experts competence on Apple’s brand loyalty and the influence their products have on consumers.
Who had the patent first? Kodak or Apple?
However, its seems there was a hiccup in the reporting and the patent was not newly sought out from camera company giant Kodak, but rather was acquired by Kodak shortly before being sold to Apple. It was never filled by apple. Apple first submitted an application for the patent in 2012, according to USPTO office records, and finally granted on January 13th, the day in which a slew of misleading reports were published by popular media sources discussing apples acquisition of the patent to be solely related to development of go-pro-like devices. So does this in fact suggest Apple’s efforts to enter into the action camera/Go Pro market? With the growth prospects of the market itself increasing in the upcoming years, predicted to grow at a CAGR of 22.2 % between 2014-2019, it would come at little surprise. In addition, knowing Apples track record, there is the likelihood for them to create products that would inevitably rank at top of the charts, with flying colors.
Apple- a new GoPro competitor or a new product on the horizon
However, perhaps the newly acquired patent from Kodak is misleading and is suggestive of something else entirely, as reported by other reliable news sources. There has been mention that if Apple were to be interested in becoming a Go Pro competitor, the patented solution would most likely have come directly from within Cupertino. Therefore, it is more probable they are using the patented tech to apply to other already existed technology or to maybe even to their ever evolving, ever advancing, soon to be released Apple watch. We will all just have to wait at the edge of our sets to find out.
Customer Liaison and Research Associate