Nokia shutting down VR camera, cutting 310 jobs

Nokia shutting down VR camera, cutting 310 jobs

Development of new versions of the Ozo camera and associated hardware will be "halted", while "maintaining commitments to existing customers".

Nokia has called time on its OZO virtual reality camera, announcing that it will cease development of the expensive multi-lens system as it doubles-down on health tech.

Further details are awaited.

Nokia said it will continue to focus on digital health and patent and brand licensing business.

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The Finland-based vendor said the job cuts at Nokia Technologies, affecting nearly one-third of the division's 1,090 headcount, came amid "slower-than-expected development of the VR market". Finland, the U.S., and the United Kingdom will bear the brunt of most of the redundancies.

In August 2016, Nokia slashed the price of the OZO by $15,000 in a move the company said it hoped would "drive penetration globally". The company said it has invited employee representations from its Finland business to engage in cooperation negotiations.

Instead, Nokia intends to focus on its digital health business.

Having seen its dominance of the mobile phone market shrink to nothing in the wake of smartphones from Samsung and Apple, Nokia in 2015 pivoted to the nascent VR market. It seems that VR's take-off has been too slow for Nokia to make this viable, so it is now cancelling the product and cutting jobs. While necessary, the changes will also affect our employees, and as a responsible company we are committed to providing the needed support to those affected. The camera was only announced two years ago and was supposed to be a high-end option for filmmakers looking to capture 360-degree video.