Citing “slower-than-expected development of the VR market”, Nokia has announced a sudden stop on its Ozo 360° VR camera development. The news will mean layoffs at Nokia Technologies, with up to 310 jobs lost in the UK, US and Finland.
Intended for professionak use, the Ozo VR camera launched in Europe in March 2016, priced at €55,000 ($65,145). By summer of 2017, the price had dropped to €34,780 ($41,195).
No further iterations of the Ozo VR camera will be developed, but Nokia has committed to supporting the device’s existing customer base going forward.