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China's DJI reveals drone for $499 that flies from your hand

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China’s SZ DJI Technology Co. unveiled a small camera drone starting at $499 that can take off and land from the palm of a hand, seeking to appeal to the broader consumer market.

The new Spark drone weighs 10.6 ounces, is equipped with a 1080-pixel video camera and can be controlled with a remote, a mobile device or using hand gestures alone, DJI said at an event in New York on Wednesday. The Shenzhen-based company will start shipping orders in mid-June.

Michael Perry, Director of Strategic Partnerships for DJI Drones, launches the DJI Spark gesture-controlled selfie drone at a DJI Drone event in New York, U.S., on Wednesday, May 24, 2017. Mark Kauzlarich/Bloomberg

DJI is the world’s leading maker of drones, but most of the gadgets in its existing lineup cost $1,000 or more and are used for surveying crops or industrial sites and in high-end filmmaking. The 11-year-old company is looking to expand its market to stay ahead as global revenue in the industry is projected to increase from more than $6 billion this year to $11.2 billion by 2020, according to researcher Gartner Inc.

DJI also competes with GoPro Inc., which struggled recently with its own drone debut.

Source: Bloomberg Pro Terminal

Jr Trader Ivan Ivanov


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