Nokia pulls out of OZO VR hardware, lays off 310, stairs adult in health and patents

Nokia, a once-mighty phone builder that eventually retreated to a business formed around networking apparatus and targeted verticals like health and imaging, is rethinking a business plan once again. Today, a association announced that it would stop building a pricey OZO practical existence cameras after anticipating that a VR marketplace was building “slower than expected”. It will instead shift a concentration some-more to health products and obvious licensing. Nokia Technologies is laying off adult to 310 people as partial of a move. Nokia Networks is unaffected.

The reductions will occur especially in a U.S., U.K. and Finland, a association said, and comment for about 35 percent of a 1,090 employees in Nokia Technologies, as a section overseeing VR efforts (along with Health and chartering of patents) is called.

Nokia Technologies is during a indicate where, with a right concentration and investments, we can meaningfully grow a footprint in a digital health market, and we contingency seize that opportunity,” pronounced Gregory Lee, boss of Nokia Technologies in a statement. “While necessary, a changes will also impact a employees, and as a obliged association we are committed to providing a indispensable support to those affected.”

Nokia’s OZO VR cameras done their entrance around 2015 during a time when Nokia looked like it had all though given adult on hardware, after saying a mobile phone business — once a biggest in a universe — get decimated by a arise of Android and a iPhone and eventually sole off to Microsoft (which continued to breeze it down after also unwell to cure it).

The association pronounced that it will continue to support those who have already purchased devices.

Tapping into a flourishing seductiveness in VR, a association doubled down on a imaging bravery — it was famous to have some of a best camera record in a smartphones, with a patents to underpin it — and went ruin for leather into VR cameras.

Partly since of a tech involved, and partly since of a relations adolescence of a market, these cost a fortune, upwards of $60,000 when they finally started to ship, definition that there was never going to be a mass marketplace for a products, unless VR really took off.

In a end, it hasn’t — or during slightest not like Nokia suspicion that it would. With competitors creation lower-priced equipment, one engaging spin has been how VR tech has done a approach into some-more typical products, rather than building on a specialist-equipment trajectory. (In a VR headset space, for example, that has meant headsets that let we use your possess smartphone as a arrangement screen.)

Nokia kick-started a digital health business about a year and a half ago with a €170 million ($200 million in today’s currency) squeeze of French intelligent health tool builder Withings, that had done a name for itself in activity trackers, intelligent scales, blood vigour monitors and other health and aptness devices. Nokia rebranded a services as Nokia progressing this year.

Patent chartering has been one of Nokia’s mainstays via a lot of a other ups and downs. Part of this is associated to a company’s record legacy, and partial of this is still in swell of being built by approach of Nokia Bell Labs.

Featured Image: Shutterstock

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Posted by on Oct 10 2017. Filed under Europe. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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