Rumors of a new "GoPro Hero 5" coming out by 2016 are becoming more plausible as GoPro Inc., the company behind the popular action camera, slashes the price on their current cameras on the market today.

According to Christian Today, the company has made another price reduction with their "GoPro Hero 4 session". GoPro Inc. has already lower the action camera's price to $300 back in September, but now fans can already get the new camera for $200.

While this could be a sign that the new "GoPro Hero 5" could soon be hitting the market, the report states that the new price cut could be linked to the company's current losses. As previously reported here at Ecumenical news, the company failed to reach its sales goals for the year. GoPro Inc. also failed to release the new "GoPro Hero 5" which was slated for an October 2015 launch. The delay is also hurting it's standing in the stock market as the current hiccups are already worrying investors.

Gospel Herald however reports that GoPro Inc. will have not just one new device come the New Year but two. The company is also slated to release a new GoPro Drone device named Karma. GoPro Inc. has already released the first video just this week for the new device but has failed to release any other news about the new drone.

CEO Nick Woodman recently sat down with Re/code to talk about the new GoPro Drone. Woodman talked about how proud he is about the new product and states:

"It's incredible to see our world from new perspectives, it's a real 'Oh my god' moment. We did that with our GoPro cameras, and we see a similar opportunity in the quadcopter market. It's something that's in our DNA, and we are excited about it across the company."

The company has yet to confirm a release date for their new "GoPro Hero 5".