Apple Granted Patent for Action Camera, Causing GoPro’s Stock to Tank

Apple is getting into the smart watch business, but there’s another market that may be in the company’s crosshairs: action cameras. Apple was granted a patent for a wearable camera today, and the news caused GoPro’s stock to tumble by around 12%.

The patent was filed back in 2012 and is titled, “Digital camera system having remote control.” The document details an action camera system that can be mounted to things like helmets and masks. Among the details included were mentions of weaknesses in GoPro’s line of action cameras.

In addition to recording video, Apple’s patented camera can also capture still photographs and record audio. According to Patently Apple, some of the tech inside the camera is based on intellectual properly Apple acquired from Kodak back in 2013.

(via Reuters)