The Nokia Ozo VR camera launched back in 2015, the device came with a hefty price of $60,000, the company then dropped the price of the camera to $45,000.
Nokia has now revealed that it will stop working on the Ozo VR camera and this will affect around 310 staff of Nokia Technologies.
In digital media, the slower-than-expected development of the VR market means that Nokia Technologies plans to reduce investments and focus more on technology licensing opportunities. The unit aims to halt development of further versions of the OZO VR camera and hardware, while maintaining commitments to existing customers.
“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.”
You can find out more details about Nokia’s future plans over at their website at the link below.