GoPro announced that it plans to move most of its U.S.-bound camera production out of China by the summer of 2019 to mitigate the potential impact of inclusion on any new tariff lists. Shares gain 2 percent in pre-market trading.
International-bound camera production will remain in China.
“Today’s geopolitical business environment requires agility, and we’re proactively addressing tariff concerns by moving most of our US-bound camera production out of China,” said CFO Brian McGee.
GoPro expects to make this move at a relatively low cost, given the company owns its production equipment while its manufacturing partner provides the facilities.