GoPro reiterates plans to move U.S. bound camera production to Mexico
SAN MATEO, Calif., May 13, 2019 /PRNewswire/ — In light of recent comments made by the United States Trade Representative, GoPro, Inc. (NASDAQ: GPRO) today reiterated its plans to move most of its U.S. bound production out of China, while maintaining production in China for non-U.S. bound cameras.
“In June, we will begin production in Guadalajara, Mexico of our U.S. bound cameras to support sales beginning in the third quarter,” said Brian McGee, Executive Vice President and CFO. “We expect most of our U.S. bound cameras will be in production in Mexico in the second half of 2019. As stated previously, our decision to move most of our U.S. bound production to Mexico supports our goal to insulate us against possible tariffs as well as recognize some cost savings and efficiencies.”
GoPro will present at the J.P. Morgan Global Technology, Media & Communications Conference at 10:40 am Eastern Time on Tuesday, May 14.
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