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renegadebusdallas.com October 21, 2017


Nokia is giving up on VR - 300 jobs at risk

11 October 2017, 12:32 | Yvette Williams

Nokia Technologies will continue to focus on digital health and patent and brand licensing business

Nokia Technologies will continue to focus on digital health and patent and brand licensing business

The company says it will not be developing any more virtual reality hardware, but will continue to support its OZO VR customers.

Nokia launched its OZO camera previous year to help developers create 3D movies and games for virtual reality headsets.

On Tuesday, Nokia informed that the decision to shutter Ozo VR camera will impact a third of Nokia Technologies' workforce.

Announced two years ago, Ozo originally sold for $60,000 before a price cut to $45,000.

Now, Nokia Technologies is pivoting from VR to digital health.

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This change in strategy is expected to affect up to 310 of the roughly 1090 employees in Nokia Technologies, mainly in Finland, the US and the United Kingdom according to the company.

The camera was not really aimed at the everyday user (not that the price gave that away or anything) but rather filmmakers who needed a high-end camera to capture 360 degree video.

While it might not have been in the company's original ballpark, OZO suggested Nokia was taking VR seriously.

The reason for the shutdown according to Nokia has to do with the slow growth in the VR market or rather, the direction of growth.

Nevertheless, the layoffs will mainly happen in the US, UK and Finland and account for around 35 percent of the 1,090 employees in Nokia Technologies. The company halted development of future models of the camera in favor of further investment into digital health technology. 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.



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