Nokia Won't Be Making Any New OZO Cameras

Nokia Won't Be Making Any New OZO Cameras

Nokia Won't Be Making Any New OZO Cameras

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.

"The company will focus more on growing its brand and technology licensing while accelerating growth in the digital-health market", the report concludes, noting further that Nokia has been "easing back into the consumer electronics market, steadily building a new portfolio of connected digital-health products".

Nokia also wants to "optimise" investment in virtual reality (VR), however, not necessarily by creating VR products itself.

Nokia plans to reduce up to 310 jobs from its Nokia Technologies unit and halt development of its virtual reality camera Ozo and hardware, the Finnish company said on Tuesday.

When Nokia Technologies introduced the OZO stereoscopic camera in July 2015, it seemed inevitable that the camera would play a big role in shaping the landscape of professional immersive video content.

However, there's little balm for the employees soon to be axed. Nokia said it will leave the division's patent-licensing business "untouched". However, the company plans to build on digital health and try that avenue for profit, building on the acquisition of activity tracker and health-monitoring device company Withings for €170m a year ago.

"Through a more focused, more agile digital health business, Nokia aims to have larger impact with consumers and the medical community", Nokia said in a statement. "While necessary, the changes will also affect our employees, and as a responsible company we are committed to providing the needed support to those affected".

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