Breaking News

SAMA Launches Exclusive Amazon Prime Day Deals on Flagship PC Cases and AIO Cooler Lineup Transcend Launches Ultra-Fast PCIe Gen5 SSD MTE260S Power Your World with DJI's New Portable Power Station Power 2000 G.SKILL CAMM2 DDR5 Memory Module Demonstrates DDR5-10000 Overclock Speed on ASUS Z890 Motherboard JCB Phone Launches New Rugged Smartphone Range to Power Global Expansion

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Nokia Halts Development of the OZO VR Camera

Nokia Halts Development of the OZO VR Camera

Enterprise & IT Oct 10,2017 0

Nokia plans to reduce up to 310 jobs from its Nokia Technologies unit and halt development of its "OZO"virtual reality camera and hardware.

The Finnish company on Tuesday announced plans to "sharpen the focus of Nokia Technologies on digital health, and accelerate growth in that market, while optimizing investments in virtual reality (VR)." Nokia Technologies will also focus on growing brand and technology licensing while leaving its successful patent licensing business untouched.

Nokia Technologies unit has about 1,090 employees and the potential cuts are expected to affect staff in Finland, the United States and Britain. Nokia employed about 102,000 employees as of end-June.

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 Technologies is at a point where, with the right focus and investments, we can meaningfully grow our footprint in the digital health market, and we must seize that opportunity," said Gregory Lee, president of Nokia Technologies. "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."

Nokia launched the OZO camera last year as the first device for its digital media business, one of its new hopes for future growth. The camera 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.

Tags: Nokia OZO
Previous Post
NVIDIA CEO Revs Up Auto Industry with NVIDIA DRIVE PX Pegasus Autonomous Car Computer and Holodeck VR Design Tool
Next Post
Japan to Dramatically Improve GPS Accuracy Using Fourth Satellite

Related Posts

  • Nokia Focuses On Virtual reality With Upgraded 'OZO Reality' Solutions

Latest News

SAMA Launches Exclusive Amazon Prime Day Deals on Flagship PC Cases and AIO Cooler Lineup
Cooling Systems

SAMA Launches Exclusive Amazon Prime Day Deals on Flagship PC Cases and AIO Cooler Lineup

Transcend Launches Ultra-Fast PCIe Gen5 SSD MTE260S
PC components

Transcend Launches Ultra-Fast PCIe Gen5 SSD MTE260S

Power Your World with DJI's New Portable Power Station Power 2000
Consumer Electronics

Power Your World with DJI's New Portable Power Station Power 2000

G.SKILL CAMM2 DDR5 Memory Module Demonstrates DDR5-10000 Overclock Speed on ASUS Z890 Motherboard
PC components

G.SKILL CAMM2 DDR5 Memory Module Demonstrates DDR5-10000 Overclock Speed on ASUS Z890 Motherboard

JCB Phone Launches New Rugged Smartphone Range to Power Global Expansion
Smartphones

JCB Phone Launches New Rugged Smartphone Range to Power Global Expansion

Popular Reviews

be quiet! Light Loop 360mm

be quiet! Light Loop 360mm

be quiet! Dark Mount Keyboard

be quiet! Dark Mount Keyboard

Arctic Liquid Freezer III 420 - 360

Arctic Liquid Freezer III 420 - 360

be quiet! Light Mount Keyboard

be quiet! Light Mount Keyboard

Soundpeats Pop Clip

Soundpeats Pop Clip

Noctua NH-D15 G2

Noctua NH-D15 G2

be quiet! Light Base 600 LX

be quiet! Light Base 600 LX

Crucial T705 2TB NVME White

Crucial T705 2TB NVME White

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed