GoPro to move production out of China over tariff concerns
This Nov. 11, 2015 file photo shows the GoPro HERO4 Session action camera in Decatur, Ga. (AP Photo/ Ron Harris, File)
The Associated Press
Published Monday, December 10, 2018 10:35AM EST
SAN MATEO, Calif. - Action-camera maker GoPro says it will move production of U.S.-bound cameras out of China by the summer over tariff-related concerns.
Companies have been voicing concerns over a looming trade war between China and the U.S. as both countries have been threatening tariffs against one another.
GoPro did not say Monday where production was moving or how much the move would cost.
The San Mateo, California-based company did say that it owns its own manufacturing equipment, so it will only be changing the physical location of where production will take place. Production of international-bound cameras will remain in China.
GoPro shares slipped nearly 2 per cent to $4.88 in morning trading.