GoPro, Inc.’s (GPRO Quick QuoteGPRO - Free Report) flagship camera, HERO7 Black, witnessed record levels of social engagement at launch and achieved the highest week-one retail unit sales in the company's history.

Notably, the HERO7 Black’s standout feature — HyperSmooth — set a new bar with in-camera, gimbal-like video stabilization. TimeWarp, a stabilized time lapse function, provides a superior effect to videos as well as the ability to stream live from GoPro to social media platforms. The company is seeing solid endorsement and interest as owners are posting their HERO7 Black videos online. HERO7 Black has received accolades from media outlets and trade associations. Growing product sales will help the company enhance its top line in coming quarters.

Furthermore, GoPro is aiming toward transforming itself from the ‘camera maker’ to ‘content maker’ and has taken major steps to diversify into higher-margin businesses including video editing and virtual reality. The company is developing various types of software solutions and hardware to curtail the complexity of managing, editing and sharing content on different media platforms.

GoPro has made significant improvements to its editing software on the back of its acquisition of two most popular mobile editing apps, Replay (which has been rebranded as Quik) and Splice, which are experiencing robust adoption. The integration of these two apps has simplified mobile content creation for GoPro as well as for smartphone users. Its app Quik enables users to instantly edit GoPro footage on their phones and create short videos for networking sites.

Other players in the industry include Sony Corporation , Dolby Laboratories, Inc. (DLB Quick QuoteDLB - Free Report) and Sonos, Inc. (SONO Quick QuoteSONO - Free Report) .

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