Nokia Shuts Down Ozo VR Camera Division

The Finnish company said in a statement that it would focus on patent, brand and technology licensing, and digital health as they are witnessing faster growth.

October 10: Finnish multinational communications company Nokia has announced termination of its Ozo Virtual Reality (VR) camera, which in turn may lead to around 310 job losses in Finland, the U.S., and the UK.

The Nokia Ozo VR camera was never meant for the average user. Nokia is clearly betting that it can reap the rewards of a digital health market that may be maturing more quickly but also faces serious challenges of its own.

The firm said it would maintain commitments to existing OZO customers but did not elaborate on what exactly that meant. The camera captured 4K images and video with help from eight wide-angle cameras, which came in a package that weighed 9.3 pounds.

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Since, the VR market failed to grow at a pace that Nokia expected it to, along with rivals making cheaper alternatives, Nokia's decision appears sensible.

Despite its price, the OZO camera featured some impressive pieces of kit. The figure represents around a third of the Nokia Technologies workforce.

KitGuru Says: Back in 2014 and 2015, there was a lot of hype surrounding virtual reality and how it was going to be the next big thing.

Nokia said the change in direction could affect the jobs of up to 310 of the 1,090 people employed by Nokia Technologies. Nokia, whose main business is now telecoms network equipment, launched the camera a year ago as the first device for its digital media business, one of its new hopes for future growth.

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