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GoPro plunges after Apple gets camera patent

Cristina Arias | Cover | Getty Images

Apple (AAPL) appears to be moving into GoPro's (GPRO) territory. The U.S. Patent and Trademark Office published a series of 34 newly approved apple patents Tuesday, one patent in particular relating to a camera system that could be mounted to various objects while being controlled using a phone or watch, according to Patently Apple. According to the site, Apple's invention could directly move into GoPro's realm as the patent specifically mentions the weaknesses of the GoPro devices.

Shares of GoPro dropped some 12 percent in late-session trade.

Read More It was a GoPro Christmas:GoPro CEO Apple's new patents show the tech giant's possible entrance into the field of digital video cameras, notably, digital cameras equipped with remote control and wireless capability.

The camera could also come equipped with a microphone that allows recording sounds in air and underwater, according to the granted patent. The application for the patent was was filed in 2012 and may include intellectual property from Kodak (KODK) patents, according to Patently Apple, which Apple acquired in November 2013.

Read the coverage at Patently Apple