Xiaomi Could Consider A Consumer Drone, Report Says

China-based Xiaomi is expected to release a consumer drone with a 350 mm rotor-to-rotor distance, according to Marbridge Consulting.

The report noted that Xiaomi could announced its drone at the same time the company reveals its Mi 5 smartphone. The drone is expected to be an entry-level aerial photography drone and could also feature GPS technology and altitude holding technologies.

Xiaomi is a competitor to GoPro Inc GPRO in the action camera market. In fact, Xiaomi's Yi Action Camera sells for just $64, roughly half the price of GoPro's entry-level Hero camera.

"I've been bearish on GoPro since they became public," Cody Willard, chairman of Scutify (a financial social network), told Benzinga back in 2015. "I've talked about how Chinese competitors are going to crush GoPro. GoPro does not have a proprietary platform. Without a proprietary platform, they're just another hardware company."

Shares of GoPro were trading lower by 5 percent on Thursday as investors weigh the possibility that the company's already late entry to the drone market will be met with stiff competition from Chinese firms, such as Xiaomi.