Nokia is killing off its Ozo virtual reality camera and cutting 310 jobs
Nokia says it will stop development of its Ozo virtual reality camera, leading to 310 job losses in Finland, the US, and the UK. The company says the change is due to the slower-than-expected development of the VR market, and that it will instead focus on patent licensing and digital healthcare.
It was only two years ago that Nokia announced the Ozo camera system and positioned it as a high-end option for filmmakers to capture 360-degree video. The camera originally sold for $60,000, though the price was eventually cut to $45,000. In a press statement, Nokia said it will “maintain commitments” to existing Ozo customers, though did not clarify what that means.
The company currently employs around 1,090 people, so the job cuts mean it...