Wednesday, 11 October 2017

Nokia Set To Cut Up To 310 Jobs In Finland, United States and Britain

Report coming from Finland says Nokia is planning to cut up to 300 jobs from its Nokia Technologies unit. The company also plans to stop the development of its virtual reality camera OZO that was announced back in 2015. According to report, the unit which is responsible for the development of the virtual reality camera has about 1,090 employee.


While the company is halting the development of its virtual reality camera OZO, it however stated that the unit will continue to focus on digital health and patent and brand licensing business. In a statement Nokia officials said;
The slower-than-expected development of the VR market means that Nokia Technologies plans to reduce investments and focus more on technology licensing opportunities
OZO was Nokia's first digital media business device after the company switched to making telecoms network equipment for others. The device was designed for making 3D movies and games that can be watched and played with virtual reality headsets. It was launched for $60,000 in December 2015 but the price was later cut to $45,000 in April last year.

Author: verified_user

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