Despite being synonymous with action cameras, GoPro has had a rough couple of years as it struggles to bring in new customers willing to spend top dollar for its products. The company sought growth in the drone segment but had to bow out of there because it couldn’t really compete in the market. The company’s troubles have forced it to look elsewhere for support and it’s finding that in licensing deals. GoPro has started licensing its camera technology and sensors to other companies.
GoPro today announced a global multi-year technology and equipment licensing deal with Jabil. The company is going to use GoPro’s reference design and IP to produce camera lenses and sensor modules which will be used in “GoPro-approved” third-party products.
GoPro’s Chief Technology Officer Sandor Barna highlights the possibilities that this deal brings. The company’s camera technology can eventually make its way to a diverse range of products such as video conferencing solutions, robotics, and self-driving cars.
Jabil and GoPro have a longstanding relationship as they first collaborated on the GoPro Hero4 back in 2014. Jabil is a US-based manufacturing company that runs 90 facilities in more than 20 countries across the globe. The products that Jabil manufactures under this agreement will not be GoPro-branded.
The financial terms of this deal haven’t been disclosed but GoPro is obviously going to receive licensing fees for opening up its camera technology and IP to Jabil. It also opens the door to similar licensing agreements with other manufacturers down the road.