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Transcript of DJI Innovations
Phantom 2 and its Dominant Design
Network Externality Value
Colin Guinn's idea to integrate his aerial photography company into DJI's drones
DJI's drones use a GoPro camera that cost $679
Not only for professionals, for recreational consumer use
Steady, controlled shots with heightened aerial views
Allows people to take photos or videos through perspectives they would never have been able to
Phantom is DJI’s first quad copter that's remote-controlled with a camera
Came out on January 7, 2013
Sold 2,000 units in the first week for $679
Uses satellite navigation to hover in place
Able to find way back to original location
Can go up to 400 feet legally, but is capable of exceeding 3,000 feet
Weighs 2.5 pounds
Has a speed of 25 mph
Voted as easiest drone to control and most powerful
Modern white color with sleek-rounded curves
Quality shots at any altitude and speed
Laws and Regulations
drones are not allowed to fly above 400 feet or anywhere near an airport
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Brewster, Signe. “Consumer Drones Are Coming, and They Will Change Everything.” Gigaom. Gigaom, Inc., 1 Dec. 2013. Web. 21 Nov. 2014. <https://gigaom.com/2013/12/01/consumerdrones-are-coming-and-they-will-change everything/>.
"DJI - The World Leader in Camera Drones/Quadcopters for Aerial Photography." CreateDJI. Web. 17 Nov. 2014. <http://www.dji.com/>.
"DJI Innovations." Wikipedia. Wikipedia Foundation, 12 Jan. 2014. Web. 17 Nov. 2014. <http://en.wikipedia.org/wiki/DJI_Innovations>.
“Drones Spotted Near JFK Airport, Ed Koch-Queensboro Bridge Raise Worry.” CBS New York. CBS Local Media, 20 Nov. 2014. Web. 21 Nov. 2014.
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Wallace-Wells, Benjamin. “Drones and Everything After.” Daily Intelligencer. New York Media LLC, 5 Oct. 2014. Web. 17 Nov. 2014.
USPTO. “Patent US D691,514.” United States Patent and Trademark Office. Oct. 15 2013. Web. 23 Nov. 2014. <http://pdfpiw.uspto.gov/.piw?PageNum=0&docid=D0691514&IDKey=FD23B4453B7D%0D%0A&HomeUrl=http%3A%2F%2Fpatft.uspto.gov%2Fnetacgi%2Fnph-Parser%3FSect1%3DPTO1%2526Sect2%3DHITOFF%2526d%3DPALL%2526p%3D1%2526u%3D%25252Fnetahtml%25252FPTO%25252Fsrchnum.htm%2526r%3D1%2526f%3DG%2526l%3D50%2526s1%3DD691%2C514.PN.%2526OS%3DPN%2FD691%2C514%2526RS%3DPN%2FD691%2C514>
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Founded in 2006 by Frank Wang Tao
Headquartered in Shenzhen, widely considered China’s Silicon Valley
Offices can now be found in the United States, Germany, Japan, Beijing and Hong Kong
Has over half of the market share for small, unmanned aerial vehicles
Today, DJI products are redefining industries. Professionals in film making, agriculture, conservation, search and rescue, energy infrastructure, and more trust DJI to bring new perspectives to their work and help them accomplish feats safer, faster, and with greater efficiency than ever before.
Part of Network Externality Value is the idea that with an increased amount of users of a product, the value of the product will also increase.
Drones are made up of many adaptable parts that can satisfy a consumer regardless of his or hers desires in a product
The more satisfied consumers there are, the more likely people will buy a drone, which will then start a chain reaction that could cause other people to buy drones as well
The more consumers there are with different needs, the more combinations and adaptable parts companies can make to satisfy these consumers.
DJI innovations took the Drone industry by charge and has made itself a market leader by making a product that is affordable and easily learned by consumers. Without the brilliant mind of its leader Frank Wong, DJI innovations would still be selling helicopter parts and would not have become the global leader it is today.
DJI's main competitors are Parrot and 3D Robotics. With reported earnings in 2013 of $131 million, $52 million, and $35 million respectively DJI clearly has more of the market than their closest rivals.
There are many firms looking to gain entrance into this lucrative market including a few firms crowd-sourced through Kickstarter. DJI however specializes in high quality photography, which greatly increases the barrier for new entrants to take their business.
There are many options in the drone market, but for those who want a quality photography drone there is NO substitute for DJI. (Video samples available in references.)
Supplier Buying Power:
Having significantly more market share than their rivals likely allows DJI to get better prices from their suppliers.
Buyer Buying Power:
Buyers are a strong force in this market because they have many options, including the option to build their own DIY drone. They have the ability to demand high quality and the features they want.
provide wi-fi to the whole world
"octocopters" fly packages from fulfillment centers to customers in 30 minutes
the drone has a built-in GPS to direct it to its destination
"as large as a Boeing 747 aircraft" and "would operate at an altitude of between 60,000 and 90,000 feet"
the drones are projected to be flying in the air by 2019
the National Transportation Safety Board (NTSB) just recently declared drones to be "aircraft" meaning that someone operating a drone can now be fined for reckless or careless use
reckless and careless use is very subjective and is up to the discretion of a judge
fined $10,000 by the Federal Aviation Administration(FAA) for reckless use when capturing images over a college campus. He appealed the ruling and won, but the case was revisited and Pirker was found guilty
DJI holds only one US Patent, which is only for the "ornamental design" of the Phantom.
Much of the quad-copter technology can be found in expired patents dating back to the early 1960's.
DJI recently created an SDK to allow users to create their own apps for Phantom drones.
This lessened protection will open up a whole new customer base of "hackers" and "modders."
DJI's core competency is is their ability to provide the customer with a complete ready to fly drone capable of taking high quality photos and videos.
expectation of privacy has now changed because of the new principle of verticality
"High-tech snooping is a big concern"
unintentional invasion of privacy can lead to major lawsuits that have never been seen before
specific regulations need to be set in place
DJI doesn't appear to be rigid yet, but they need to make sure they keep innovating and try to find new ways to diversify their offerings if they want to keep their #1 position.
Phantom 1 with GoPro
StormDrone 4 with GoPro
Factory Installed Cameras:
Parrot AR 2.0 vs DJI Phantom FC40
(in order displayed)
IrixGuy. "DJI Phantom 1.1.1 - First Flight." YouTube. YouTube, 29 Jan. 2014. Web. 23 Nov. 2014.
Elephants17. "Storm Drone 4 First Flight W/ GoPro." YouTube. YouTube, 6 Sept. 2013. Web. 23 Nov. 2014.
Rivest, Mike. "DJI Phantom FC40 VS. Parrot AR. Drone 2.0." YouTube. YouTube, 18 July 2014. Web. 23 Nov. 2014.