GoPro Inc. said it has poached a member of Apple's design team, contributing to a rally in shares of the wearable-camera maker on Wednesday.

Daniel Coster, who is reportedly credited with contributing to the iPhone's design and the iPad's wireless keyboard among other products, will begin his new post as vice president of design at GoPro at moth's end.

Shares of GoPro, which have slumped 69% over the past 12 months, jumped 19% to $13.92 in afternoon trading. Shares of other struggling tech companies, such as Fitbit Inc., up 12%, and Yelp Inc., up 4.4%, rallied Wednesday.

The company said that in his role, Mr. Coster will have a hand in all aspects of design, from hardware to software to services.

GoPro described Mr. Coster as a "core member of Apple's elite industrial design team for more than 20 years" and added that he "holds more than 500 design patents and several utility patents, and has been recognized by several international design organizations for his work."

The hire was a shot in the arm for struggling GoPro, which in February posted weak fourth-quarter earnings, extending its rough ride of recent results. The company in January announced a 7% reduction of its workforce, and last year a 50% price cut to its newest camera.

Analysts say GoPro faces challenges because the action-camera market is becoming saturated and the company is struggling to find new sources of revenue.

Write to Ezequiel Minaya at ezequiel.minaya@wsj.com

 

(END) Dow Jones Newswires

April 13, 2016 16:55 ET (20:55 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
Yelp (NYSE:YELP)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Yelp Charts.
Yelp (NYSE:YELP)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Yelp Charts.