GoPro Faces Competition From China's Xioami in Action Cameras

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.