China's DJI unveils $499 drone that flies from palm of your hand

NEW YORK – China's SZ DJI Technology unveiled a small camera drone starting at $499 that can take off and land from the palm of a hand, seeking to appeal to the broader consumer market. The new Spark drone weighs about 300 grams, is equipped with a 1080-pixel video camera and can be controlled with a remote, a mobile device or using hand gestures alone, DJI said at an event in New York on Wednesday. The Shenzhen-based company will start shipping orders in mid-June. DJI is the world's leading maker of drones, but most of the gadgets in its existing lineup cost $1,000 or more and are used for surveying crops or industrial sites and in high-end filmmaking. The 11-year-old company is looking to expand its market to stay ahead as global revenue in the industry is projected to increase from more than $6 billion this year to $11.2 billion by 2020, according to researcher Gartner Inc. As the drone market becomes more mainstream, DJI is facing competition from cheaper rivals, especially in China, that have flooded the market with models from $10 mini toys to sub-$100 camera carriers.