Nokia decided to let go the mobile phone sector and go for an Internet
of Things with the purchase of Withings in 2016. It also had the Ozo VR
360-degree camera, but that is now canceled due to slower-than-expected
development of the market. The company announced it's shifting focus
from VR to digital health and growing brand and technology licensing.
In a statement to the media, Nokia said the plan is to reduce
investments and halt development of further versions of the OZO VR
camera and hardware. This will affect 310 of all 1090 employees mainly
in Finland, the United States, and the United Kingdom.
The VR market surely is not as hot as Nokia might have wanted, but
the lack of interest towards their device might have something to do
with the price tag of $45,000 rather than a general issue.
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