HTC is set to take an unexpected leap into extreme sports gear with a waterproof camera that will challenge the GoPro, according to a source familiar with its plans. The Taiwanese company is said to be looking beyond the smartphone as it seeks out new way to make money following three years of declining sales.

“Featuring an ultra wide-angle lens, the camera will have a 16 megapixel sensor and connect directly to devices running Google Inc.’s Android and Apple Inc.’s iOS systems, said the person who asked not to be identified because the details aren’t public,” Bloomberg reports.

The camera is said to be “tube-shaped,” and it will have built-in Bluetooth and Wi-Fi connectivity. It’s thought HTC could build dedicated apps for both Android and iOS that would work alongside the device.

Bloomberg’s source says the device could be unveiled as early as October 8, when HTC will hold a press event in New York City entitled “Double Exposure” that is expected to be focused on photography. As for the Taiwanese company’s, that’s delayed and may not be released until next year, as previously reported by CNET.

Near indestructible, pocket-sized cameras have been a big success for GoPro, which earlier this year raised $427 million from investors. The company’s HERO devices have been hugely successful among extreme sports enthusiasts, who can use them to record video underwater, in the snow, and in dirty, dusty climes without having to worry about them breaking.

• SourceBloomberg