Nokia pulls back on VR and axes 310 jobs

Since then Nokia have been a relatively constant presence, appearing at events and working with multiple partners through the OZO VR camera. That equates to a third of its technology division workforce. On Tuesday, the company announced plans to kill off its expensive OZO professional VR camera and cut hundreds of jobs in the process.

Pricing out amateur moviemakers may well have been the nail in the OZO coffin, but the end of the Nokia camera leaves the door open for another company to help take the immersive moviemaking mainstream.

Nokia has made a good decision since rather then wasting money on a project that does not seem to be working quite well it shall make efforts in the fields where the company might actually excel and make good money. The VR 360 market has become increasingly dominated by companies making small, easy to use, consumer based devices that don't cost a fortune.

Nokia says it will instead focus on health products and licensing of patents. Nokia leapt into VR as a way to establish its presence in an emerging industry viewed by many as the future of technology.

You did however get a lot for money, to the tune of eight cameras, each with a 195-degree angle of view.

Nokia has unveiled plans to sharpen its focus on digital health and accelerate growth in that market. Lee affirms that Nokia remains "committed to providing the needed support to those affected".

"The shift deepens Nokia's commitment to fully leverage its digital health portfolio acquired through the purchase of Withings in 2016", Nokia said.

Currently, 1,090 employees are working in the Nokia unit and potential cuts are expected to affect the rest of the staff in Finland, Britain and United States.

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