Not surprising, it's a commoditized sector.

On top of that, when GoPro first launched mobile phones generally did not have cameras capable of producing production-quality images, and especially video. 20 years later, the game is much different.

Remember the Flip video camera that was all the rage for like 2 years and then just disappeared when cellphones could shoot video? GoPro is like a rugged Flip, so it took a little longer for the world to catch up to them, but now there are lots of options, and a "cheap" sports camera that is 1/4 the price of a GoPro is good enough, even if it only lasts 1/2 as long.

It's honestly embarrassing that our leaders still haven't realized why this is happening, and still aren't taking any actions to prevent it from getting worse.

Giving billions of free money to shareholders of Intel & friends is going to do absolutely nothing to change the tide. Want domestic manufacturing? Invest in building a JLCPCB alternative: automated to the fullest extent possible in order to save fractions of a cent on ops, then operated on a razor-thin margin but making up for it in volume.

Chinese people aren't the lazy dumb manual workers we have long pretended they are. After we have freely given them all of our engineering knowledge with outsourcing, they are now beating us on the free market. If we don't internalize this, stop with the silly competition-destroying tariffs, and try to compete again, we are doomed to slide into irrelevancy - and we've got only ourselves to blame.