GoPro to shift camera production out of China
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Action camera maker GoPro has announced that it will move "most" of its US-bound camera production out of China by the summer of 2019 in order to avoid getting caught up in escalating tariff feud between the US and China.
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"Today's geopolitical business environment requires agility, and we're proactively addressing tariff concerns by moving most of our US-bound camera production out of China," said Brian McGee, Executive Vice President and CFO of GoPro. "We believe this diversified approach to production can benefit our business regardless of tariff implications."
The company expects this move to be a low-cost one, since it claims that it owns its own manufacturing equipment, and that its manufacturing partner only supplies the facility.
Only production of cameras destined for the US market will be moved out of China. Those aimed at the international market will continue to be manufactured in China.
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Interestingly, GoPro did not make clear where in the world US-bound cameras would be manufactured.
Last month saw President Trump pondering whether to slap a 10 percent tariff on Chinese-made iPhones and MacBooks, claiming "people could stand that very easily." While that threat appears to have been put on hold for now, this is bound to raise concerns across the entire tech market.
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