Insta360 targets smart glasses and mirrorless cameras after dominating 360-degree market
Insta360, which holds 73% of the global 360-degree camera market, is expanding into smart glasses and mirrorless cameras. The company aims to bridge the gap between smartphone photography and professional imaging, avoiding direct competition with AI-focused rivals like Meta.
Key points
- Insta360 holds 73% of the worldwide 360-degree camera market and has shipped its 10 millionth camera.
- The company recently spent $298 million on memory chips, exceeding GoPro's entire valuation.
- Insta360 is opening its first flagship US store in Times Square, New York City.
- Cofounder Max Richter states the company is experimentally building smart glasses and mirrorless cameras.
- Insta360 aims to target the market segment between smartphone users and professional photographers.
- The company explicitly avoids competing with Meta on AI features for smart glasses.
Background
Insta360 has recently launched the X6 360-degree camera, featuring larger sensors and improved low-light performance, while also offering discounts on its X5 model. The broader smart glasses market is currently navigating privacy concerns, with Meta developing camera-free variants and implementing safeguards against covert filming.
Why it matters
Insta360's expansion signals a shift from niche 360-degree cameras to broader consumer imaging, potentially challenging established brands like Canon, Sony, and Nikon in the mid-range market while avoiding the AI-centric competition of Meta.
What to watch
Watch for the release of Insta360's experimental smart glasses and mirrorless cameras, as well as the performance of its new Times Square flagship store.
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