Nokia Halts Virtual Reality Camera Development Citing "Slower Than Expected" Market

Nokia has revealed plans to axe hundreds of employees to reshape the company's business strategy towards digital healthcare, patents, and virtual reality. Despite the halt, Nokia will continue to honor its commitments with existing customers.

Nokia believes that the VR market is witnessing less than expected growth, and hence, has chose to shut down its efforts for developing the Ozo VR camera.

Further details are awaited.

The unit will remain focused on digital health and brand licensing. "Through a more focused, more agile digital health business, Nokia aims to have a larger impact with consumers and the medical community".

Nokia has announced today that it will be shuttering its VR camera division. The camera has eight synchronised 2Kx2K sensors for the video sensor array, full spherical 360×180 degrees coverage with a 195-degree angle of view per lens, and full spherical, 360×360 degree audio capture. The bulk of the positions will be lost in Finland with the remainder coming from Nokia's US and United Kingdom operations.

Sadio Mane joins Philippe Coutinho on 2017 Ballon d'Or shortlist
He scored 13 Premier League goals last season despite missing the whole of January due to the Africa Cup of Nations. Mane already has three in four league matches for Jurgen Klopp's so far in the current season.

Since, the VR market failed to grow at a pace that Nokia expected it to, along with rivals making cheaper alternatives, Nokia's decision appears sensible. Some of those who lose jobs may find roles at Varjo, a company set up by former Microsoft and Nokia employees and who are now working on developing high-density VR displays.

There are a total of about 1,090 employees in the Technologies unit, which means about one-third of them will be laid off.

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

Nokia has continued producing Withings' attractive smartwatches, smartphone-connected body scales, and even a smart hair brush, with more devices to come in 2018 including a new sleep monitor.

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