From CNET: Nokia is killing off further development of its mega-expensive VR Ozo camera as part of shift in focus to digital health tech, the company announced Tuesday.
Blaming slower-than-expected growth in the VR market, Nokia said it would continue to focus on licensing opportunities and fulfilling its commitments to existing customers, but would otherwise redirect its efforts away from Ozo.
It marks a huge shift for the company, which could mean laying off staff as it reduces investments in virtual reality and redirects efforts into other projects. The Finnish company said it will now be focusing on becoming a leader in the health tech space following its buyout of Withings last year.
"Nokia Technologies is at a point where, with the right focus and investments, we can meaningfully grow our footprint in the digital health market, and we must seize that opportunity," said the company's president, Gregory Lee, in a statement.
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