Published in Wearables

Nokia gives up on VR camera

by on10 October 2017


Makes more workers redundant

The former rubber boot maker Nokia has abandoned its OZO VR camera project and made more workers redundant.

Nokia plans to reduce up to 310 jobs from its Nokia Technologies unit. The department has about 1,090 employees and the potential cuts are expected to affect staff in Finland, the United States and Britain.

Instead the unit will continue to focus on digital health and patent and brand licensing business, Nokia said.

“The slower-than-expected development of the VR market means that Nokia Technologies plans to reduce investments and focus more on technology licensing opportunities”, it said in a statement.

Nokia, whose main business is now telecoms network equipment, launched the camera last year as the first device for its digital media business, one of its new hopes for future growth.

It was designed for making 3D movies and games that can be watched and played with virtual reality headsets. Nokia cut the price of the camera by 25 percent to $45,000 later last year.

Last modified on 10 October 2017
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