GoPro gives up on the drone business. Finally…

GoPro has announced that it’s exiting the drone business, citing the challenges of turning a profit in an “extremely competitive” market. The company revealed the news during its earnings report today, saying that its Karma drone would be the last it would make. The company is also laying off hundreds of staff and reducing the pay of CEO Nicholas Woodman to $1 as it struggles to manage its rocky financials.

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