Posts tagged: wearable camera

Views from the 2014 Wearable Tech Expo

Ed Lee
 Aug 11, 2014

The 2014 Wearable Tech Expo was held at the Jacob Javits Center in New York City at the end of July. The conference was focused on the emerging wearable device market and offered a wide range of speakers from device manufacturers and component suppliers to service providers and fashionistas. It drew hundreds of attendees, intent on learning more about what was happening in this market.

Here are some of the key things we took away from the conference:  Read more »

Contour Action Cameras – Down but not out

Ed Lee
 Oct 25, 2013

Back in August, Contour abruptly closed its doors, leaving the space to market leader GoPro, Sony, Ion, and newcomer Garmin. Contour was one of the pioneers in the action camera space and was founded in 2004 by Jason Green and Marc Barros.

According to Geekwire.com, the company at its peak had 70 employees and in 2011 generated $27.3 million in revenue. However, the company struggled to maintain a competitive position against the juggernaut marketing budget of GoPro and new entrants to the market like Sony and others who have much deeper pockets. The company had been struggling financially this year and efforts to sell the company did not pan out. As a result, it defaulted on $7.5 million in loans and was forced to close its doors and be placed in the hands of a court-appointed receiver who is tasked with selling the company.

With the action camera market still in an early stage of adoption and gaining more attention among consumers, it is unfortunate to see a company bow out already. However, the shutdown may be short lived. Geekwire.com reports that Contour has just been sold at auction for $1.93 million to Clark Capital Partners, an existing Contour investor. The deal still needs to be finalized. Clark Capital intends to reopen the company and re-launch the brand. It remains to be seen what happens to the former employees who were all let go when the company closed. Clark Capital is considering moving Contour’s headquarters from Seattle to Utah where it is located.

InfoTrends’ Opinion

Clark Capital has its work cut out for itself. The first thing it will need to do is to repair relationships with Contour’s suppliers, dealers, and customers, which were likely hurt because of the abrupt closure. Suppliers were stuck with inventory, dealers were stuck with product and no sales support, and consumers were not able to get any customer or service support. Once Contour gets production rolling again and reestablishes a dealer channel, it must invest the marketing dollars to rise above the noise that other action camera companies are making.

Companies looking to get into the action camera business may want to explore a potential investment position in the new Contour, as they will be able to get in above the ground floor. If the company is successful in its re-launch, it can ride the wave of market growth of action cameras expected in the coming years.

To learn more about the action camera market refer to InfoTrends’ The Wearable Camera Market report.  It is available to clients of our Digital Photography Trends Service or from the InfoTrends report store.

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