The decline of action camera pioneer GoPro has paved the way for Chinese rivals DJI and Insta360 to capture over 90% of the global handheld smart camera market. Based in Shenzhen, both companies are expanding aggressively into each other’s product lines, including drones and panoramic cameras. GoPro, once a US tech champion, now holds just 3% of the market after years of debt and slow innovation.
It was acquired for $285 million, far below its 2014 peak valuation of nearly $12 billion. DJI leads with 73% market share, while Insta360 holds 20%, dominating niche panoramic models. The two firms are locked in patent disputes in the US as they compete for global leadership through rapid product development rather than price wars.
Source: Financial Times Companies · Summarized by HeadlinesBriefing