You are not logged in. Please Login or Register

News Headlines

AMA Drone Report 01.11.18: Hobbico Chapter 11, New Tello Drone, Karma Killed

Also: Huerta Steps Down, NJ Considering Drone DUI, UK Drone Collision Study, Team Futaba In a bit of bad news we did not need, one of the hobby industry’s biggest players is filing for bankruptcy protection as it looks to refinance or sell the company. A major presence in the hobby drone market, Hobbico filed a petition for relief under Chapter 11 of the United States Bankruptcy Code while it ‘seeks an orderly finalization and implementation of its comprehensive restructuring plan.’ The petition was filed Wednesday with the United States Bankruptcy Court – Wilmington of Delaware. In conjunction, Hobbico also announced its plan to sell the company. Ryze Tech, a drone start-up, has completed development of its first intelligent toy drone called the Tello, and is officially debuting the new product at CES 2018 in Las Vegas. The Tello is a hobby drone that balances fun, form and function, weighing around 2.8 ounces with a body that is approximately the size of a smartwatch. It can be activated with a quick toss and return to land in the palm of your hands in a matter of seconds. GoPro announced in its most recent earnings report that it is exiting the camera drone market after it sells off its existing drone inventory. The company is reportedly laying off between 200 and 300 people, mostly from the Karma segment of the business. The layoffs were announced in a letter from GoPro executives to employees affected by the move, which was called part of a "larger restructuring to better align our resources with business requirements." All this -- and MORE in today's episode of the AMA Drone Report!!!

Read Full Story >>>>