Smartphone manufacturer HTC Corporation is reportedly developing its first camera similar to the GoPro.

It's expected to be waterproof and suitable for extreme sports, according to a source who spoke to Bloomberg on condition of anonymity.

The HTC camera could feature an ultra-wide lends and a 16 megapixel sensor, while GoPro's Hero3+ has only 12 megapixels.

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It's also designed to connect to iOS and Android devices for fast uploading and social media sharing. The source said HTC might develop its own iOS and Android applications to support these features.

Aside from that, it will feature Wi-Fi and Bluetooth for instant connection to other devices and smartphones. As for its body, the source said it will be tube-shaped.

Other than these features, the source didn't say if it'll include other "extreme sports" functions GoPro has.

The public will know more about the new HTC cam on Oct 8 at a press event in New York.

The source said HTC may reveal two new products at the event: the first HTC camera and a new smartphone optimized for taking "selfies."

The Taiwan-based company didn't provide any more details about the event, except it's entitled "Double Exposure."

HTC's development of its first camera is a step to expand its product offerings beyond smartphones.

The company faced three years of falling smartphone sales due to tougher competition from Lenovo Group Ltd. and Xiaomi Corporation, Bloomberg reported.

Adding cameras could bring in more revenues. It also means challenging GoPro, Inc., also Taiwan-based, which raised US$427 million in its initial public offering in June.

In contrast, HTC's stock dropped 7.1 percent this year and remained at NT$131 in Taipei after a recent 1.5 percent increase.

The news of HTC's first camera came shortly after Ricoh released its WG-M1, which is also seen as a GoPro competitor.

WG-M1 is waterproof without its external housing up to 32.8 feet (10 meters); cold proof to 14°F (-10°C), and protected against falls from a height of 6.6 feet (2 meters).

TagsHTC, GoPro, Hero3+, ricoh, WG-M1