GoPro Unveils New Devices as It Faces Heat From Smartphone Cameras

There’s Hero 6 Black, a refreshed version of its flagship product, and Fusion, a 360-degree spherical camera

GoPro Inc is betting on two new devices to differentiate itself from the fast-advancing camera technology found in smartphones, and to help it reclaim profitability.

At a product unveiling Thursday, the action-camera company announced the Hero 6 Black, a refreshed version of its flagship camera aimed at adventure seekers.

The Hero 6 Black is packed for the first time with a custom processor created specifically for GoPro. The company said the camera includes digital zoom, improved voice control, simpler editing software and the ability to transport footage at three times the speed than its predecessor. It sells for $499, about $100 more than its previous version.

The camera, though, also highlights the challenges GoPro faces as it competes for consumers who increasingly shoot their lives on the smartphones readily available in their pockets. For instance, the Hero 6 Black will be able to shoot in 4K at 60 frames a second, the same capabilities in Apple Inc.’s new iPhone 8. The camera also carries a price tag just shy of the entry price for some premium smartphones.

To differentiate itself, GoPro also announced Fusion, a long-awaited 360-degree spherical camera it’s been teasing since last year.

While other 360-degree cameras have hit the market in recent years, GoPro is banking on features such as OverCapture, which will allow consumers to capture every angle at once and choose later which perspective they want to share via the GoPro app.

The Fusion is available for preorder for $699, with shipments starting in November. However, some of its distinct software tricks, such as OverCapture and filters that can manipulate footage’s perspective, won’t be available until next year.

The product launches come as GoPro is trying to rediscover its footing after a rough year that included supply-chain snafus, an embarrassing recall and layoffs. Sales had dropped by half.

GoPro is showing some signs it is headed in the right direction. In July, it logged a loss of $12.9 million in the second quarter, narrowing from $72.6 million a year earlier. Earlier this month, the company said it expects third-quarter revenue to come in at the upper end of its prior guidance of between $290 million and $310 million.

Stanley Kovler, an analyst at Citigroup , estimates the new guidance implies roughly 35,000 to 40,000 in additional camera-unit sales.

GoPro Chief Executive Nick Woodman said Thursday’s launch has been its smoothest yet. “We know that we had challenges with that in the past,” he told analysts on a conference call, “and this year we got it right.”