Watch out GoPro, China's Xiaomi is coming after you. After shaking up the global smartphone industry with its low cost handsets, Xiaomi is moving to its next target-the action camera. Xiaomi's Yi Action Camera will sell for about $64 US dollars. That's half the price of the entry level GoPro Hero, which retails for $130 dollars. Tech Analysts say Xioami's Yi will be a formidable competitor. Both cameras have similar waterproof depth and a smartphone app to remotely control the device. But the Yi weighs less, offers more storage and boasts more powerful video capabilities. GoPro investors seemed spooked by the rival.
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