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

Nokia plans to reduce up to 310 jobs from its Nokia Technologies unit and halt development of its virtual reality camera “OZO” and hardware, the Finnish company said on Tuesday.

The unit has about 1,090 employees and the potential cuts are expected to affect staff in Finland, the United States and Britain. Nokia employed about 102,000 employees as of end-June.

The unit will continue to focus on digital health and patent and brand licensing business, Nokia 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,” it said in a statement.

Nokia, whose main business is now telecoms network equipment, launched the camera last year as the first device for its digital media business, one of its new hopes for future growth.

It was designed for making 3D movies and games that can be watched and played with virtual reality headsets. Nokia cut the price of the camera by 25 percent to $45,000 later last year.

 
 


 
 


 
More in National
BSES Delhi consumers can exchange old ACs for new energy efficient one...

AC Replacement Scheme: Through the scheme, consumers can exchange old, inefficient, power-guzzling airconditioners with new energy efficient ones at a discount of...

Recently posted . 27 views

How fixed deposits are taxed in India; Here’s all you need to know

FDs are considered as one of the safest and most common investment options. The interest income earned from FDs, however, has certain tax implications.

Recently posted . 26 views

'Wife has Beard, Masculine Voice': Ahmedabad Man Seeks Divorce, Court ...

In the petition before judge N M Karovadiya, the man contended that he was duped by the woman's family, as before the marriage he was not aware that she had f...

Recently posted . 9 views

Bizarre! Forest ranger’s photo-op with 18-foot python goes horribly wr...

There is no dearth of incidents where the adventurous idea of clicking a selfie or posing for a photo with wild animals has often turned tragic. While the examples ...

Recently posted . 10 views

Hey Virat, do your bit to eliminate single-use plastic… maybe carry yo...

The Swachh Bharat campaign, admirable though it is, imagines that it can sweep the plastic away from public places. But where to? The city dump yards have been full...

Recently posted . 9 views

Jaipur choreographer late for Mumbai flight, makes hoax bomb call to I...

The bomb threat on Mumbai-bound IndiGo flight was declared a hoax after authorities carried out a probe.

Recently posted . 4 views

 
 
 

Prashnavali

Thought of the day

Although difficult, change is always possible. What holds us back from making the changes we desire are our own limiting thoughts and actions.
Anonymous