Nokia started selling the camera earlier this year as the first device to be produced for its digital media business and hoped that it would see a lot of future growth. The price was huge - some $60,000 in the United States and Europe and even with the price cut it is still $45,000.
But actually given what the camera is supposed to do it is pretty cheap. The spherical camera features eight sensors and microphones and is designed for making commerical 3D movies and games that can be watched and played with virtual reality headsets.With porn movies supposed to be a key driver such cameras are reasonablity affordable for such low cost film making.
Nokia said the virtual reality market was developing quickly and the new price reflected that. So in otherwords enough people wanted a camera for the prices to be reduced.