Chen Siqi, Peng Cheng

vankochensq@163.com

APART from being an arena for elite athletes from all over the world, the Olympics became a stage for displaying various high-tech products. At the opening ceremony of the 2024 Paris Olympics, athletes and audiences from countries like China, France, and Costa Rica were captured using Insta360’s X4 panoramic cameras, which recorded stunning photos and videos from the stadium.

According to Insta360 staff, the X4 panoramic camera features wide-angle capabilities. Unlike traditional cameras, panoramic cameras can stitch together multiple photos or videos using a specialized algorithm, resulting in a seamless and complete panoramic image or video. This technology also allows for the selfie stick to become invisible, enabling athletes to achieve a low-altitude perspective akin to drone footage.

Riding the wave of this year’s Paris Olympics, sports-related industries are experiencing significant growth. As a global leader in action cameras, Shenzhen-based Insta360 is capturing attention.

“The European Cup and the Paris Olympics have fueled public enthusiasm for sports. As a result, our sales in France have doubled in 2023,” said Chen Yongqiang, co-founder of Insta360. “This growth has also been fueled by the booming economy associated with the Olympics and France’s popularity as a travel destination,” he added.

Chen noted that approximately 80% of the company’s revenue in 2023 came from overseas markets, primarily targeting Europe, North America, as well as Japan and South Korea. A significant part of this growth is attributed to increasing content creation by internet influencers focusing on travel, alongside rising public interest in sports events that further popularize action cameras.

Looking ahead, Insta360 plans to leverage major sports events to expand its reach in overseas markets, according to Chen.

Founded in Shenzhen in 2015, Insta360 specializes in panoramic, action, and vlog cameras, gaining popularity in travel recording, sports, and video creation.

The company operates in over 200 countries and reported approximately 2 billion yuan (US$276 million) in revenue in 2022. In March, Insta360 ranked third in the consumer electronics category on Fast Company’s “World’s Most Innovative Companies 2024” list.

Insta360’s panoramic camera products have been used for VR live broadcasts of major events both domestically and internationally, including China’s 2019 National Day Parade, the CCTV Spring Festival Gala, and the 2022 Beijing Winter Olympics.

Since 2018, Insta360 has ventured into artificial intelligence (AI), developing cameras with object-tracking capabilities and software for AI-powered editing. The company has invested over 100 million yuan in research and development, with nearly half of its staff dedicated to research. As of 2024, Insta360 has registered over 700 patents both at home and abroad.

Liu Jingkang, another co-founder of Insta360, revealed that the company plans to release five new products by year end.