Insta360 Expands Beyond 360 Cameras into Smart Glasses
Insta360 has established dominance with its 73 percent share of the global 360 camera market and is now looking to expand beyond this niche. The company, which recently opened a flagship store in New York City's Times Square, aims to become a top imaging or tech firm by developing mirrorless cameras and smart glasses. Co-founder Max Richter emphasized that Insta360 does not aim to compete directly with smartphones but instead targets the space between casual smartphone users and professional photographers. Insta360 is also challenging DJI in other categories such as drones, gimbals, and action cameras. While it remains a distant second overall compared to DJI's market share, Insta360 has made significant gains in specific segments like detachable action cameras where it holds 43 percent of the global market. The company is also working on two experimental mirrorless camera designs with unconventional shapes and exploring smart glasses that focus more on high-quality image capture than AI features. Founder JK Liu, who became a billionaire after Insta360's IPO last year, confirmed these developments.
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Topics: camera market gadget industry Insta360 market share product diversification