Tuesday, 17 July, 2018

Nokia plans to cut up to 310 jobs, halt VR camera development

Nokia will stop building OZO VR cameras Nokia plans to cut up to 310 jobs, halt VR camera development
Theresa Hayes | 10 October, 2017, 13:08

As many as 310 of Nokia Technologies' 1090 workforce will be affected, with Finland, the United States and the UK most affected.

Since the split, Nokia Technologies has dabbled in a variety of areas, including handset design (but not manufacturing), patent licensing and digital health. To start the process, Nokia today has invited employee representatives of Nokia Technologies in Finland to cooperation negotiations.

"The unit aims to halt development of further versions of the OZO VR camera and hardware, while maintaining commitments to existing customers", Nokia said in a statement.

The OZO ball boasts eight cameras and microphones that capture footage and for VR experiences.

Nokia said that Nokia Technologies will sharpen its focus on digital health and accelerate the company's growth in that market.

Nokia launched the professional product in 2015, but VR hasn't taken off in the way Nokia hoped it would. It was meant to be the first of many devices from the company's digital media business and expectations were high for its success.

While announcing the closure of Ozo VR, the company said it would now focus more on digital health and solutions developed by its health care business from Withings.

Nokia Technologies is to slash its workforce by nearly a third as it refocuses its efforts towards technology licensing and digital health rather than virtual reality. 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 past year.