Nokia drops out of VR market, halting next-gen OZO camera development

Leigh Mccormick
October 11, 2017

Since the split, Nokia Technologies has dabbled in a variety of areas, including handset design (but not manufacturing), patent licensing and digital health. Powered by the research and innovation of Nokia Bell Labs, we serve communications service providers, governments, large enterprises and consumers, with the industry's most complete, end-to-end portfolio of products, services and licensing. The company halted development of future models of the camera in favor of further investment into digital health technology.

The arm of the business which is responsible for the development of the camera, called Nokia Technologies, will, therefore, lay off up to 310 people as part of the shift, it said, but assured Nokia Networks will remain unaffected. Shaped like a bloated tadpole, it packed eight cameras and a corresponding eight microphones, for capturing all-round video and audio. Nokia released the OZO in early 2016, but it would seem the company's executive team had higher than realistic expectations for the VR market.

Nokia is blaming "the slower-than-expected development of the VR market" for its decision to focus its energies and investment in digital health.

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Pricing out amateur moviemakers may well have been the nail in the OZO coffin, but the end of the Nokia camera leaves the door open for another company to help take the immersive moviemaking mainstream. The company said it has invited employee representations from its Finland business to engage in cooperation negotiations.

Finnish tech firm Nokia is cutting up to 190 jobs in Finland. Lee, who previously served as Samsung North America's CEO, was hired just four months back as Nokia's new global president.

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