When comparing 360fly HD vs Ricoh Theta V, the Slant community recommends Ricoh Theta V for most people. In the question“What are the best waterproof 360 degree cameras?” Ricoh Theta V is ranked 2nd while 360fly HD is ranked 4th. The most important reason people chose Ricoh Theta V is:
It has a superb video quality for a camera of its budget. Here is a comparison against a similar camera: https://youtu.be/-ea5h4LqKdQ
Specs
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Pros
Pro Best design aesthetics and best "Bang for the Buck"
The textured spherical body is original and pleasing to the eye. It's price its very affordable, even for amateur videographers, making it a good option for those who want quality but are on a tight budget.
Pro Widest angle lens of the 360º cameras.
It features eight elements with an aperture of f/2.5, a field of view of 240 degrees, a 0.88mm focal length and a minimum focus distance of 30cm.
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.
Cons
Con The automatic renaming system is limited
You have to download the videos to the computer each time because of its limited capacity, and each time the file naming system resets, so you end up needing to make a new folder for every time you download the videos and then renaming them by sequence, which is a lot of work.
Con Can't make real adjustments to the video recording settings
No white balance, sensitivity and frame rate settings to tweak.
Con It's not really a full 360º camera
It has only one lens with a 240-degree field of view. It basically operates like a fly's eye and films sideways, and it's meant to be fixed on a flat surface like a table, or the floor, or a surfboard. The lens quality is superb though.
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.