Engadget:

It’s tough times for GoPro’s fledgling empire. The action camera maker is cutting the jobs of about 7 percent of its workforce (roughly 105 people) after poor sales during the fourth quarter, particularly in the first half. It doesn’t have a detailed explanation for the drop, but it recently slashed the price of the notoriously expensive Hero4 Session — clearly, it misjudged how much people were willing to pay for the tiny cube cam.

As my very smart friend Ben Bajarin said on Twitter, “GoPro simply maxed their user base, peaking essentially. No reason for base to buy new ones and no product to expand their TAM.”

In other words, everyone who wants a GoPro likely already has one. As a motorcyclist, I always thought it would be cool to have one until I realized, I’m never going to watch/edit/post the video so why bother?