Action camera maker GoPro is entering the drone market "a little bit too late," Piper Jaffray analyst Erinn Murphy said Friday, a day after the company reported that quarterly sales plunged about 50 percent from the previous year.
GoPro, which had pushed back the release of its drone camera, is looking to launch it later this year and sees it as a possible catalyst for growth.
"While we had to make the difficult decision to delay our drone, Karma, the upside is that Karma's launch should now benefit from the holidays," GoPro founder and CEO Nicholas Woodman said in a statement.
Share prices of GoPro tumbled 10 percent in Friday's premarket. They are down more than 77 percent over the last year.