Despite these achievements, it seems GoPro needs to do more than make subtle improvements to its action cam range to become profitable again. In a bid to turn its recent holiday sales slump around, GoPro began licensing its camera lenses and sensor technology to Jabil. Jabil Circuit specializes in electronic manufacturing solutions and counts itself as one of several Apple's suppliers.

It's always tough when cheaper competitors enter the scene with waterproof guarantees, 4K resolution and similar battery life. But GoPro's fighting back in a number of ways -- from trade-in incentives for customers who are on the fence about investing in its action cams, appeals to miniature motorheads with a Hot Wheels GoPro toy car, and streamlining its video sharing UI for Instagram Stories.