GoPro's depressed share price took a jump after reports that a Chinese rival, Xiaomi, may make an offer for the company. Xiaomi, a big Chinese company that makes smartphones, mobile devices, laptops and other consumer electronics, is a minority shareholder of Yi Technology, which makes action cameras that are much cheaper than those of GoPro. Xiaomi is also Yi Technology's distributor in China. The American firm, which recently lowered prices on its own cameras to stay competitive, recently mandated JP Morgan Chase & Co. to explore a possible sale of the company. Xiaomi would get GoPro at a bargain price as the recent jump in its stock market capitalization kept it just above $700 million after the news about the possible transaction, compared with a valuation of more than $10 billion when the company went public.
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