International News News

Nokia halts OZO production as VR loses steam

A month after we spoke to Nokia Technologies at IBC about their OZO range of virtual reality (VR) cameras and hardware, the company has announced that it is ending support for the range. The development of the VR market that has been slower than expected  is cited, by observers, as one of the reasons for the withdrawal  of support.

The Nokia Technologies unit aims to halt development of further versions of the OZO VR camera and hardware, while maintaining commitments to existing customers.
“Nokia Technologies is at a point where, with the right focus and investments, we can meaningfully grow our footprint in the digital health market, and we must seize that opportunity,” said Gregory Lee, president of Nokia Technologies. “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.”

Nokia had launched the Ozo camera in 2015 with a $60,000 price tag. Though the price was dropped to $45,000, the camera’s sales was not enough to sustain its continued development.

The company will continue to support its current customers.