By Staff Writer (media@latinospost.com) | First Posted: Sep 18, 2014 12:53 AM EDT

GoPro has come a long way from being funded by bead and shell belt sales to a $2 billion, publicly-traded company.

And now the newest iteration of the simple photographic device, described by The New Yorker as "high-tech guts in low-tech disguise," is said to be slated for either an October 2014 or March 2015 release, according to The Christian Post.

"There are speculations about an October release date or a March 2015 release date but until the company itself announces an official date, the Hero 4's release is unknown," the news source said. "Most likely, though, the release will be sometime in the fall 2014 as the Hero 2 and Hero 3 were released on these dates in previous years."

So, what will the Hero 4 be like?

"GoPro Hero 4 is really capable for recording video in 4K resolution at a speed of 30 frames per second, 1080p at 120fps and 720p at 240fps, which has become possible with the advent of the new SoC Ambarella A9 chip (dual A9 ARM Core ® CortexTM-A9 processor 1GHz with FPU accelerator) for advanced applications, wireless connection and streaming video in social media," detailed DGISE.

The site also said that the new model will sport a 13-megapixel photo sensor, as well as an entirely new lens for shooting in the dark. The upcoming version will also have "Multi-Exposure and HDR WDR tone mapping, electronic image stabilization, and an improved MCTF."

All these specs are on top of the signature waterproof housing and flat lens suitable for underwater shooting.

According to The Christian Post, rumor has it that the GoPro Hero 4 will retail at about $340. However, considering its improved specs, it is likely that the new GoPro model will sell at a higher price range than that.

"Since the Hero 3 sold for around $600, the Hero 4 could go for something a little bit higher than that," the publication said.

Meanwhile, it has been reported that tech company HTC is planning to release a camera that will give GoPro a run for its money and "challenge GoPro's sports-camera monopoly," HNGN observed.

The rumored competing model is said to be equipped with a 16-megapixel camera in a "tube-shaped body." It will also feature other specs, such as Wi-Fi and Bluetooth. Right now, it is still under beta stage, so there isn't much details about the product.

The HTC gadget is said to be unveiled on October 8 this year, along with a new smartphone. Will this top the GoPro Hero 4? We'll find out as more updates come our way in the next few weeks.

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