The GoPro has become a hot item. It's part of a traveler's essentials as it is handy to take out on adventures. It is on nearly every travel buff's wishlist,  However, the price tag has made many back away and look for cheaper alternatives. Now, GoPro lovers can finally get their hands on a new, top-tier GoPro at a lower cost.

Tech Radar says that it is time to say farewell to the three lower-end models of the GoPro, namely the GoPro Hero+ LCD, GoPro Hero+ and the GoPro Hero. The company is to phase out these lower end models due to the dismal numbers they made in sales during the past year. The company hopes that eliminating its roster by more than half will help boost the company's sales. This will leave the GoPro roster to just three of its higher-end cameras.

It was a bloody fourth quarter for GoPro in 2015 as the company struggled with sales. Even the onset of the holidays did not help boost the company's revenue. Forbes reported that the camera wearable company reported a disappointing $11.4 million in sales during the last quarter of 2015. This was a far cry from the $144.9 million in sales just a year ago.

Though CEO Nick Woodman did announce the release of the GoPro Hero 5 in the summer of 2016, as well as the Karma Drone, the company started off rocky in January.

The Verge said that this will only leave three of GoPro's models left on its roster. Those models will also get a massive price cut. GoPro Hero 4 Black will be priced at $499.99, GoPro Hero 4 Silver at $399.99, and the GoPro Hero 4 Session will be its cheapest model to date, coming in at $199.99.

While GoPro hopes to recover with its sales on the drone and its experimentation with virtual reality, financial analysts and investors are pessimistic. Financial analysts complain that things might not be on the mend any time soon. GoPro is seeking a projected income between $160 million and $180 million, which is dismal compared to the $298 million investors are hoping for.

Forbes noted that the company suffered drastically after its high pricing of the GoPro Hero 4 Session, which sent many technology lovers running in the other direction because of the price. Just last month, GoPro announced that it had to take drastic measures by cutting its workforce by 7 percent following abysmal sales during the holiday season.