Google to release Clips camera, GoPro stock dips by 6 percent

Google's announcement that it was planning to launch a smart video camera as part of its push into hardware sent shares of action camera maker GoPro Inc down more than six percent on Wednesday.

Google Clips will be the first standalone camera from the search and advertising company, which has expanded its hardware business over the last year.
Its signature feature draws on machine learning technology to automatically begin recording when notable actions are detected. Those could include a child cracking a smile or a dog entering the frame.

It was one of a suite of new products unveiled by Alphabet Inc's Google on Wednesday. Its move into smartphones, speakers and laptops has put the search giant into competition with Apple Inc and Amazon.com Inc .

Clips, which Google said is "coming soon," takes on compact cameras such as GoPro's Hero5 Session and Snap Inc's Spectacles as each strives to make the process of recording video simpler and more mobile.

GoPro stock closed down 6.3 percent at $10.39. Shares of Snap, which derives revenue mostly from ad sales on its social media app, dropped 0.75 percent to $14.53.
READ MORE