Polaroid thinks GoPro's new camera is a ripoff
GoPro's new tiny camera might be a ripoff.
According to CNBC, the company that holds exclusive rights to Polaroid’s instant- and action-product categories filed a patent-infringement lawsuit on Tuesday against the digital-camera maker over its Hero4 session model.
CNBC reported that C&A Marketing wants a court to award it all of GoPro's revenues from the camera, as well as lawyer fees.
GoPro launched the small Hero4 session camera in July. Analysts at Morgan Stanley noted that demand was quite weak, and the company slashed the camera's price by $100 just weeks after it launched.
We've reached out to GoPro for comment.
Shares fell by about 2% in early trading on Tuesday. They dropped to an all-time low last week after the company reported a miss on quarterly earnings, with weak guidance for fourth-quarter revenues.
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