GoPro says chip shortage won't affect holiday sales

US-based action camera manufacturer GoPro said that the global chip and other supply chain shortages will not affect its holiday sales this year.

According to The Verge, it means the company is poised to finish one of its best years in recent memory in strong fashion.

"Despite supply chain constraints that are affecting many industries, we have successfully partnered with our suppliers to produce inventory to support our fourth-quarter revenue expectations," CEO Nick Woodman said while discussing the company's third-quarter financial results on Thursday.

"GoPro.com and our retail partners will be stocked and ready for shoppers this holiday season," Woodman added.

That's especially good news for GoPro's bottom line because the new Hero10 Black is selling incredibly well despite the higher $499 price tag.

GoPro said that 98 per cent of the roughly 800,000 cameras it sold in the third quarter were at or above the $300 price tag --up from 83 per cent in the third quarter of 2020.

The average sale price for cameras in the quarter was $381, up 25 per cent year-over-year (YoY).

Recently, GoPro launched its latest action camera, the Hero 10 Black, with an improved overall performance in India for Rs 54,500. It will be available to purchase via Amazon, Flipkart, Croma, and select retail stores.

The new GoPro camera comes with a GP2 processor. The new processor enables HyperSmooth 4.0 video stabilisation for steadier shots. It also ensures higher resolution 23MP photos, improved low-light performance.