Nokia is backing out of virtual reality. The company has announced it's killing off its expensive Ozo virtual reality camera and it's also cutting 310 jobs. These changes are being implemented because the VR market hasn't developed as quickly as Nokia had anticipated.
Its job cuts will impact people in the US, UK, and Finland. Nokia says it'll "maintain commitments" to existing Ozo owners, but it won't sell new units. The camera was intended for filmmakers as its latest price was $45,000.
Nokia plans to focus more on patent licensing and digital healthcare.
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