Nokia Mulling to Layoff Employees, Shut Down OZO Virtual Reality Camera Development

Nokia is giving up on VR – 300 jobs at risk

That insane expensive 360-degree OZO camera aimed at professional content creators is left without a sequel, and the "slower-than-expected development of the VR market" on the whole makes Nokia Technologies "reduce investments" in this field, directing its increased attention instead to various "technology licensing opportunities". Nokia will also continue its work in developing 5G networking infrastructure and the Internet of Things. Nokia plans to double down on its presence in the digital health market, which it has occupied since its takeover of Withings was completed earlier in 2017.

The news comes on the eve of the Oculus Connect VR developers conference, which opens Wednesday in San Jose.

Nokia introduced the Ozo two years ago.

When Nokia Technologies introduced the OZO stereoscopic camera in July 2015, it seemed inevitable that the camera would play a big role in shaping the landscape of professional immersive video content.


Nokia has pledged to support existing customers but development has been halted.

Nokia is ditching development on virtual reality and cutting more than a quarter of its workforce. It's been over a year since the buyout was finalised by former Nokia employees in Finland, after they formed HMD - a company name with the potential to cause a degree of confusion for a virtual reality (VR) website.

Nokia has now revealed that it will stop working on the Ozo VR camera and this will affect around 310 staff of Nokia Technologies.

The company says it will increase its focus on digital health and brand and technology licensing balanced with optimised investments in virtual reality.

Related news:

Hot News

isis-killer-beheading-video-story-top CBS reporter backtracks claim that Colin Kaepernick would stand for national anthem
Oct 11, 2017 - 00:34
On Sunday, Vice President Mike Pence walked out of a 49ers-Indianapolis Colts game after players took part in the protest. He's going to donate all his jersey sales and he's planning on standing for the anthem , if given the opportunity.

isis-killer-beheading-video-story-top Sylvester Stallone to direct Creed 2
Oct 11, 2017 - 00:32
He already teased the possible return of Dolph Lundgren's Ivan Drago and released an image of handwritten pages from the script. Jordan ) as he attempts to break into the world of boxing, to follow in the footsteps of his father.

isis-killer-beheading-video-story-top Las Vegas gunman's nightstand note contained figures for wind, trajectory and distance
Oct 11, 2017 - 00:31
The shooter in last weekend's attack in Las Vegas had his eyes on two other major US cities, officials told NBC News on Thursday . Lombardo said that the revised timeline is based on new information that emerged over the course of the ongoing investigation.

isis-killer-beheading-video-story-top Hillary Clinton condemns longtime Democratic donor Harvey Weinstein
Oct 11, 2017 - 00:30
Clinton appeared at the university as part of a tour promoting her new book " What Happened ", about the 2016 campaign. Some Republicans have seized on the Weinstein report and his ties to the Democratic Party.

isis-killer-beheading-video-story-top Sears Canada tells employees 'all of our jobs' will be eliminated
Oct 11, 2017 - 00:29
The move would close all of the stores unaffected by June closures, including the North Bay location. Sears Canada will continue to provide updates regarding its restructuring as developments warrant.

isis-killer-beheading-video-story-top Andy Murray, Serena Williams expected to play in Australian Open
Oct 11, 2017 - 00:29
Williams, who is engaged to Reddit co-founder Alexis Ohanian , has not played on the WTA Tour since her victory at Melbourne Park. The 2018 Open will offer record prizemoney of $55 million, with the men's and women's winners each to pocket a record $4 million.

isis-killer-beheading-video-story-top Hatton holds on as Fisher hits record 61
Oct 11, 2017 - 00:28
It fell two feet short and he missed the birdie putt back, though still broke the course record - held jointly by six players - by a stroke.

isis-killer-beheading-video-story-top Australia 2 Syria 1 (aet, 3-2 agg)
Oct 11, 2017 - 00:28
As some of the teams' biggest fans made their way to the match, they spoke to SBS about how they were feeling about the game. Syria's dreams of securing a maiden World Cup appearance were dashed. "It doesn't matter who we play next".

isis-killer-beheading-video-story-top Trump challenges Secretary of State Rex Tillerson to 'compare IQ tests'
Oct 11, 2017 - 00:27
I think I'm actually strengthening authority ". "I watch these pundits on television and, you know, they call them intellectuals". But on multiple occasions, Trump and Tillerson haven't been on the same page.

isis-killer-beheading-video-story-top Richard Thaler wins Nobel for work in behavioral economics
Oct 11, 2017 - 00:27
Hansson said he did not believe there was systemic gender discrimination, but “we are concerned; we are taking measures.”. A University of Rochester graduate and former faculty member is the latest recipient of the Nobel Prize for economics.

isis-killer-beheading-video-story-top Kenya's opposition candidate has withdrawn from the election rerun
Oct 11, 2017 - 00:27
The electoral commission tweeted that they were meeting with their legal team and "will communicate the way forward". Odinga should have used the constitutional channel to get the reforms he wanted and not to play to the gallery.

isis-killer-beheading-video-story-top Walmart Offers Mobile Express Returns
Oct 11, 2017 - 00:25
First, the customer will have to initiate the return process on their phones using the mobile app before they go to the app. Store remodels and new digital experiences remain the priority for fiscal years 2018 and 2019, according to the company.

isis-killer-beheading-video-story-top Behrendorff shocks India's top order
Oct 11, 2017 - 00:25
The 27-year-old pacer bowled a length delivery around middle and leg which Rohit completely missed and was adjudged LBW. Now, if we hit back to the today's match then we can say that it is pretty important for both teams.

isis-killer-beheading-video-story-top Virginia Magistrate Seeks Arrest of Man Beaten During White Supremacist Rally
Oct 11, 2017 - 00:25
Alex Micheal Ramos and Daniel Borden are the only two suspects arrested and charged with malicious wounding for attacking Harris . White supremacist Borden, hours before attacking Harris , threw the metal-tipped wood at photographer Roberts' head.

isis-killer-beheading-video-story-top Dodgers Sweep D-backs in NLDS
Oct 11, 2017 - 00:24
In came Kenley Jansen, looking to end the series, the Dodgers closer started the inning off by striking out Grégor Blanco. Finally, in his sixth big-league season, Arizona Diamondbacks left-hander Patrick Corbin will make his postseason debut.