Nokia Mulling to Layoff Employees, Shut Down OZO Virtual Reality Camera Development

11 October, 2017, 00:32 | Author: Juana Mckenzie

This means Nokia will discontinue its hitherto unsuccessful VR unit. Finland, the U.S., and the United Kingdom will bear the brunt of most of the redundancies. In a statement, Nokia said it is suspending development of the OZO. Nokia is clearly betting that it can reap the rewards of a digital health market that may be maturing more quickly but also faces serious challenges of its own.

This week, Nokia unveiled a plan whereby Nokia Technologies will focus on digital healthcare services, better exploiting its existing product range. Shaped like a bloated tadpole, it packed eight cameras and a corresponding eight microphones, for capturing all-round video and audio.

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The reason for the shutdown according to Nokia has to do with the slow growth in the VR market or rather, the direction of growth. On Tuesday, the company announced plans to kill off its expensive OZO professional VR camera and cut hundreds of jobs in the process.

In healthcare, Nokia unveiled two new devices in June and rebranded Withings, the company it acquired previous year. 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 business is based on Nokia's technology legacy and the development being carried by Nokia Bell Labs. "To start the process, Nokia invited employee representatives of Nokia Technologies in Finland to cooperation negotiations", said Gregory Lee, president of Nokia Technologies.

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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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