Termination of Nokia's Ozo VR camera may reduce 300 jobs

Termination of Nokia's Ozo VR camera may reduce 300 jobs

Nokia announced today that it would cease development of the Ozo virtual reality camera, which in turn, means 310 people are officially out of a job. Powered by the research and innovation of Nokia Bell Labs, we serve communications service providers, governments, large enterprises and consumers, with the industry's most complete, end-to-end portfolio of products, services and licensing.

Bad news professional VR filmmakers, Nokia has decided it's going to stop making its OZO 360-degree, spherical camera.

Nokia has pledged to support existing customers but development has been halted. The camera captured 4K images and video with help from eight wide-angle cameras, which came in a package that weighed 9.3 pounds.

Having seen its dominance of the mobile phone market shrink to nothing in the wake of smartphones from Samsung and Apple, Nokia in 2015 pivoted to the nascent VR market.

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"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. Currently, the unit has about 1,090 employees and the layoffs literally translate to 30 percent cut down to the workforce. Clearly things have not taken off in the way it had expected, which now also raises questions on whether the future of filmmaking does lie with VR.

The VR-enabled camera was sold at United States dollars 45,000, although the original price was quoted as USD 60,000.

However, negotiations on reducing staff numbers and costs must start the process, and so talks will soon begin in Finland.

Nokia said on Tuesday that the reductions will not affect patent licensing operations, a major source of income especially since it signed a multi-year intellectual property licensing deal with Apple last May, ending a long-running dispute between the two tech giants.

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