Nokia Won't Be Making Any New OZO Cameras

The company says that the VR market has grown more slowly than expected, and as a result, investments will be cut, and the development of the OZO VR camera and hardware will stop.

The Ozo VR camera was Nokia's first product after the sale of its handset business to Microsoft. Nokia is planning to let go of employees housed in Finland, the United States and Britain locations. The company said it plans to continue supporting existing OZO customers. Going forward, Nokia will be focussing on licensing out its patents and digital healthcare, rather than virtual reality or smartphones.

The arm of the business which is responsible for the development of the camera, called Nokia Technologies, will, therefore, lay off up to 310 people as part of the shift, it said, but assured Nokia Networks will remain unaffected. It's capable of capturing stereoscope 3D through eight synchronised, optical image sensors and spatial audio via eight microphones.

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. That's a not-inconsiderable chunk of Nokia Technologies's staff, either, which now numbers around 1,090.

More news: Numis Securities Ltd Reaffirms Add Rating for UNITE Group plc (UTG)

Nokia introduced the Ozo two years ago.

Nokia will instead make digital health, which it launched with the acquisition of Withings in 2016, a key priority. Clearly things have not taken off in the way it had expected, which now also raises questions on whether the future of filmmaking does lie with VR.

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.

Related Articles

  • California Sen. Dianne Feinstein to seek re-election

    California Sen. Dianne Feinstein to seek re-election

    Feinstein, for one, has been targeted by the Golden State's far-left members who have attacked her for not being liberal enough. But the senior senator said twice on Sunday that no gun control legislation would have stopped the mass shooting.
    Amber Alert Issued for Richardson Child

    Amber Alert Issued for Richardson Child

    Richardson police also stated that Sherin was adopted from an orphanage in India two years ago, NBC5 reported. Police say tell KXAS that she has "developmental issues and has limited verbal communication skills".
    Leonard Fournette, ballhawking defense propels Jaguars to big win over Steelers

    Leonard Fournette, ballhawking defense propels Jaguars to big win over Steelers

    Roethlisberger struggled against the tough Jaguars' defense, throwing five interceptions, with two returned for touchdowns. Here are a few more notes from today's dominant effort as the Jaguars move to 3-2. "You can see that on tape".
  • Harvey Weinstein Has Been Fired From His Company

    Harvey Weinstein Has Been Fired From His Company

    Weinstein Company is also behind movies such as Pulp Fiction , Scream , Gangs of NY , andThe Lord of the Rings franchise. Weinstein's alleged inappropriate behavior with women in the last 30 years was detailed in the bombshell report.
    Nirmala Sitharaman teaches Chinese soldiers how to say namaste

    Nirmala Sitharaman teaches Chinese soldiers how to say namaste

    In a brief conversation with Chinese soldiers at the Nathu La border post in Sikkim , the Defence Minister teaches them how to say " Namaste ".
    Stellar serving helps Mizzou volleyball roll past Ole Miss in consecutive sets

    Stellar serving helps Mizzou volleyball roll past Ole Miss in consecutive sets

    With coach Hugh Freeze forced out before the season, Ole Miss is now 2-3, including 0-2 in the SEC, under interim coach Matt Luke. The two drives in between those went three-and-out, as did the first two Rebel drives after their first second-half touchdown.
  • Get Ready for President Ivanka Trump, Her Mom Says In New Book

    Get Ready for President Ivanka Trump, Her Mom Says In New Book

    The former model writes in detail about how wonderful her marriage to Mr Trump was and how she enjoyed working in his corporation. Trump's public affair with Marla Maples spawned the infamous " Best Sex I've Ever Had " headline in the New York Post in 1990.

    Google publishes unedited Pixel 2 photos and videos - check them out here

    The search giant unveiled the Google Pixel 2 and Pixel 2 XL a few days ago and the phones will start selling in the coming weeks. Apart from Flipkart , you will be able to get the Pixel 2 and Pixel 2 XL from certain offline retailers that are listed here.
    Give shoppers more time to spend old £1 coins, business group urges

    Give shoppers more time to spend old £1 coins, business group urges

    Over the past six months, more than 1.2 billion coins have been returned as people across the United Kingdom dig out old change. Anyone who still has old coins has been urged to spend them or save them asap - see our £1 piggybank warning blog for more info.
  • California Fires: Current Conditions, Locations, & Acres Affected

    California Fires: Current Conditions, Locations, & Acres Affected

    There have been several injuries, and some people have been reported missing. " Trees were on fire like torches ", she said . The "Atlas" fire, meanwhile, had burned through an additional 25,000 acres in the hills above Napa County .
    Nebraska-Wisconsin: Tracking the offense, defense

    Nebraska-Wisconsin: Tracking the offense, defense

    It was there and it was great execution". "Just starting at practice, just going out there, be good everyday at practice". Tanner Lee hit a streaking Stanley Morgan for an 80-yard TD to get the Huskers on the board with 1:20 to go in the half.
    Chrissy Teigen Discusses Trying For Second Baby With John Legend

    Chrissy Teigen Discusses Trying For Second Baby With John Legend

    In fact, he also got nostalgic too by posting a series of his own throwback photos in honor of "Flashback Friday". Now Teigen is revealing that her daughter actually just inherited all of John's genes.