They have 3 models ("white", "silver", "black") of their main product–the Hero camera–which is currently in it's 3rd version (the Hero3). The only other product

They have 3 models ("white", "silver", "black") of their main product–the Hero camera–which is currently in it's 3rd version (the Hero3). The only other products they produce (to my knowledge) are accessories for the camera. I don't think comparison to Palm or Iomega is fair. Camera technology seems a little more cemented than storage or mobile operating systems. I think the rise of sectors like drones will make GoPro a successful complement for a long time. I'm sure they could divest into specialized cameras for these sectors if they wanted to (think infrared/multispectral imaging for agriculture). Right now, however, they seem to have a "Do one thing and do it really well" approach.