GoPro Names Apple Designer Daniel Coster to Design Team
April 13 2016 - 5:10PM
Dow Jones News
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.
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