Xiaomi may acquire GoPro

Updated 2018-04-19 11:15:05

Chinese handset-maker Xiaomi may purchase U.S.-based action camera producer GoPro, Chinese news website PingWest reported on Wednesday.

The deal is deemed by the market as positive news for GoPro, which has faced sluggish sales and a decline in its market capitalization to 1 million now from billion in its peak period in 2013, the report said.

Several months ago, GoPro contacted Shenzhen-based drone developer DJI Innovations about a potential deal, but DJI backed away citing "GoPro's lack of value," the report noted.

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