GoPro hasn’t been good for its investors as of late, but the company is stepping in a new direction in its search for profits. The company has announced that it has signed a licensing deal for its camera lenses and sensors to be used in third-party products.
This new licensing agreement was made with Jabil, the global manufacturing company that has produced GoPro’s cameras since the HERO4.
“With this agreement, Jabil will leverage GoPro’s cutting-edge reference design and IP to produce camera lens and sensor modules for incorporation into GoPro-approved third-party products and solutions,” GoPro says. “The deal covers a range of products and services each company offers, including certain digital imaging and consumer products.”
“The products will include digital imaging and consumer-facing gear, but not any cameras that would directly compete against GoPro’s own devices,” The Verge reports. “The products Jabil will make won’t be branded GoPro, but they will utilize GoPro’s underlying tech.”
GoPro’s stock is currently hovering around an all-time low of less than $4.70 a share — the stock price was over $86 back in October 2014.