GoPro to Move U.S.-Bound Camera Production From China on Tariff
(Bloomberg) -- GoPro announced that it plans to move most of its U.S.-bound camera production out of China by the summer of 2019 to mitigate the potential impact of inclusion on any new tariff lists. Shares gain 2 percent in pre-market trading.
- International-bound camera production will remain in China.
- "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 CFO Brian McGee.
- GoPro expects to make this move at a relatively low cost, given the company owns its production equipment while its manufacturing partner provides the facilities.
- Link to Statement: GoPro Plans To Move US-Bound Camera Production Out Of China
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