GoPro Halts Sale of Hero5 Camera on Amazon

[Pelican Press 0]

GoPro Halts ***** of Hero5 Camera on

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Wearable camera maker GoPro Inc said on Thursday it temporarily stopped selling its latest Hero5 camera model on

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.com Inc in the ******* States as the company negotiates pricing with the online retailer.

GoPro’s shares fell as much as 3.8 percent, on track for its worst six-day drop since May.

The company will resume supplying to

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at the end of the month or in early November, a GoPro spokeswoman said.

“Most likely, GoPro is temporarily, but intentionally, not shipping to

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following a not-uncommon pricing squabble, when a retailer lists the product below the agreed-upon floor price,” said Longbow Research analyst Joe Wittine.

A number of retailers, including Best Buy Inc, match prices for products on e-commerce platforms like

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.

GoPro launched a slew of products last month, including the Hero5 ****** and Hero5 Session cameras and the Karma drone, ahead of the crucial holiday season.

GoPro depends on

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for about 12-14 percent of its total revenue, said Piper Jaffray analyst Errin Murphy. The company receives more than half of its revenue from the ******* States.

However, some analysts said the concerns may be **********.

“September or early October is a slow sales month anyway as people gear up for the holiday season,” said Oppenheimer analyst Andrew Uerkwitz.

He said the temporary nature of the issue should have very little effect on the company.

The company’s shares fell to $13.75 on Thursday. The stock had fallen more than 15 percent in the last five trading sessions.

© Thomson Reuters 2016

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gopro halts ***** of hero5 camera on

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