New 360-degree GoPro Max this month – but not the one you think!

There was a surprise in GoPro's Q4 earnings announcement CEO Nick Woodman indicated that – before the long-awaited Max 2 360-degree camera would come out – there will be a repackaged Max this month.

That's right, new packaging for the 2019 360-degree GoPro camera which Woodman described as having "pioneered and led" the 360-degree market. Even though he was only talking for a few minutes, he also made clear to note GoPro's "category defining IP" – very noteworthy given that GoPro has recently started to become quite active in the protection of its patents.

Overall GoPro's Q4 earnings call yesterday had positive news for investors, with Woodman suggesting it had broadly hit expectations over the holidays.

He also seemed to appreciate the scale of the difficulty in the 360-degree camera market; the unsaid side of claiming that GoPro 'had' led the market is the very obvious acknowledgement that someone else now does. That is Insta360, and specifically the 8K-capable X4 which now very clearly dominates the best 360-degree camera space, and it's also clear that GoPro's board have identified this as a "robust growth segment in the broader digital imaging category."

Since 'traditional' action cameras like the GoPro Hero Black 13 are seen to have more or less plateaued – but face more competition – reaching growing markets is important to GoPro.

That means that, especially with the delays to the Max 2, it makes a lot of sense to attempt to more broadly own the space. The company has already updated software, and having a lower-priced and a premium 360-degree model would be a similar approach to the one GoPro takes with other products.

It makes sense that a new SKU – essentially new packaging – to reflect that dichotomy could be brought out to market even faster, with the Max 2 being the premium version when it eventually arrives (still no date was given!) Woodman said as such, saying the (old) max would be "Entry level."

Woodman did note that the new Max (1) would be "slightly refreshed" but also benefits from significant enhancements to the free GoPro Quik app. It also seems from his remarks that keeping it out there – keeps GoPro in the space (it had previously started clearing the channel for the now-delayed Max 2). Woodman also indicated "The software experience [in 360] will continue to expand."

Perhaps, too, GoPro will acknowledge the soon-to-be entry-level GoPro Max is significantly higher in price than the Insta360 X3 it is nominally comparable to. The X3 is typically $399 to the old Max's $499; perhaps we'll see a change there? We'll know that by the end of this month.

It's also noteworthy from the results that GoPro is continuing to improve subscriber retention rates, reaching 69%, suggesting the 2.52 million users who do pay value their subscription services – which bring in $107m in revenue per year. The company also sold 775,000 units in Q4. Finally Woodman also suggested 2026 would be a 'bright spot', product wiss, for GoPro.

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Of course the world doesn't stand still for GoPro OR Insta360 – it is now also rumored that DJI are preparing a 360-degree camera.

Check our guide to the best GoPro alternatives for cheaper – and better – action cameras.