This one is the most popular option for most people. It's superb for general use. Its waterproof case for underwater filming is specially noteworthy.
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Pro Worth its money
It has a superb video quality for a camera of its budget. Here is a comparison against a similar camera: https://youtu.be/-ea5h4LqKdQ
Pro It lets you take pictures with enhanced lighting
Its HDR mode lets you take pictures with softer lighting that doesn't overexpose bright areas as much.
Pro It can stand independently without the use of a tripod
That saves you money because you don't need to buy one.
Con Low internal memory and no options for MicroSD expansion
It features an internal memory of 19GB, which is not much, and presents no option for adding a MicroSD. Having to empty your camera each time before filming is a pain.
Con 360 Stills are shot at relatively low resolution
Stills are shot at 15 megapixels, which is about the same as its predecessor, the Ricoh Theta S.
Con Not suited for action shots
The lack of stabilization means that if you shoot moving action shots, like for example riding a bike, they will be hard to see.
Con The app to control the camera is slow and somewhat buggy
The app is still called Theta S in the Google Play Store, so they probably haven't updated the software much since their last model. It's slow to load and forces you to manually reconnect to the camera via Wifi each time you use it.