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GoPro announced it is discontinuing its older series of cameras alongside a pretty negative financial report for 2015The report describes an unexpected $57 million hit to the company’s revenues due to an excess of camera inventory and obsolete technology.

The new GoPro lineup starting in April will only include three cameras: the Hero4 Black, Hero4 Silver and Hero4 Session. Everything else will be discontinued, including the cheapest Hero GoPro, which the company describes as “the perfect entry-level GoPro.”

Following GoPro’s announcement, its stocks have taken a sharp fall, going down over 10% over the last day. Read more…

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