Nokia Sharpens Focus On Digital Health

Above Nokia's Ozo VR

Nokia's OZO multi-camera virtual reality device also sported a hefty price tag that likely only attracted deep-pocketed developers investing in the technology.

Taking a reversal move, Nokia has ultimately planned to streamline its developments around virtual reality (VR) and sharpen the focus of Nokia Technologies on digital health.

It initially had a $60,000 (£45,500) price tag, bringing it in line with the kind of other cameras commonly used for Hollywood movies and TV commercials.

Nokia says it will stop development of its Ozo virtual reality camera, leading to 310 job losses in Finland, the USA, and the UK.

The reason for the latest decision is stated to be the "slower-than-expected" development of the VR market. It's capable of capturing stereoscope 3D through eight synchronised, optical image sensors and spatial audio via eight microphones.

Nokia said the change in direction could affect the jobs of up to 310 of the 1,090 people employed by Nokia Technologies.

Apart from the digital health business, the company will also focus on growing the brand and technology licensing while leaving its successful patent licensing business untouched, it said. Nokia leapt into VR as a way to establish its presence in an emerging industry viewed by many as the future of technology. The company will maintain commitments to existing customers, it says. However, the company also wants to develop its digital health business with help from Withings, the activity tracker and health-monitoring device company that it acquired previous year for €170 million. Lee affirms that Nokia remains "committed to providing the needed support to those affected".

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