Nokia announces end of Ozo camera and dismissal of 310 employees

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Nokia announces end of Ozo camera and dismissal of 310 employees:

Recently Nokia made an announcement, in which company said that it will halt the development of its Ozo Virtual Reality camera, which was released in 2016 last year. Company will also lay off its 310 employees in its home country which is in Finland, and in addition to US and United Kingdom.

According to news, company blames about its Ozo VR slower than expected development in market, and company also face a cut amount in its cost rapidly in market from $60,000 to $ 45,000 which is enough to keep remain Ozo in market, but company doesn’t think that, and that’s why company takes step to end its Ozo VR camera.

Company also blames its production part; it’s slower than expected development of the virtual reality market to its end of Ozo which is released in 2015. And another reason is it price which cut down from $ 60,000 to $ 45,000. Now company showing its focus on the digital health service which include Withings which purchased last year. Now currently Nokia has 1,090 employees in its technology department.

Nokia Technologies president MR Gregory Lee said in his statement that “Nokia Technologies is at a time where, with the right focus and investment, we can significantly increase our presence in the digital healthcare market, and we must seize that opportunity”.

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