Broadcast News

Bookmark and Share
10/10/2017

Nokia To Stop Production Of OZO VR Camera

News Image
Nokia has announced that it is to cease production on further versions of the OZO VR camera and hardware.

In a statement, the company said it would 'focus on patent, brand and technology licensing and targets faster growth in digital health with sharpened strategy for Nokia Technologies', while also optimizing investments in virtual reality.

The business admitted that as a result of slower-than-expected development of the VR market, Nokia Technologies now plans to reduce investments and focus more on technology licensing opportunities. This means a stop to the development of further versions of the OZO VR camera and hardware. However, Nokia will maintain commitments to existing customers.

It is understood the potential reductions are expected to affect up to 310 of around 1,090 employees in Nokia Technologies, mainly in Finland, the UK and the US. To start the process, Nokia has invited employee representatives of Nokia Technologies in Finland to cooperation negotiations.

Gregory Lee, president, Nokia Technologies, said: "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. While necessary, the changes will also affect our employees, and as a responsible company we are committed to providing the needed support to those affected."

(JP/MH)
Solidmate Ltd Memory Card Hire London

Top Related Stories
Click here for the latest broadcast news stories.

16/05/2017
PlayBox Technology To Exhibit At BroadcastAsia 2017
PlayBox Technology has announced that it will exhibit at BroadcastAsia 2017, 23 – 25 May at the Suntec Centre, Singapore. Making its BroadcastAsia deb
25/04/2018
Production News : Channel 4 Commissions Grenfell Based VR Film
A 15 minute VR film, 'Grenfell: Our Home', has been commissioned by Channel 4, and will show the community that was affected by the Grenfell Tower fir
29/09/2017
PlayBox Technology Neo Delivers In UK Football
Two of Britain's largest Premier League football clubs have upgraded their broadcast channel branding and playout systems to the latest-generation Air
27/09/2017
Zero Density Reality Technology Powers Winner Of IBC 2017 Innovation Award
At NAB 2016, a chance meeting between virtual studio company Zero Density and Groupe Média TFO, a public media organisation created by the government
27/09/2017
Viewsat Scales Up To 140 Channels Of PlayBox Technology Neo
Viewsat has announced the expansion of all 140 of its PlayBox Technology playout systems to latest generation AirBox Neo. Based in Woking, UK, Viewsat
08/06/2018
Creative Technology Adds Riedel's Bolero To Rental Stock
Creative Technology Asia Pacific (CT APAC) has added Riedel Communications' Bolero wireless intercom system to its rental stock. CT APAC tested and id
06/04/2016
Comprimato Provides Codec For Nokia VR Camera
Comprimato has provided its JPEG2000 software codec for OZO, Nokia's 360˚ virtual reality camera. The codec compresses the output of the eight 2k
27/02/2018
Media Has Failed To Focus On The Most Important Technology Trends - DPP Report
A new report, Why We Get Trends Wrong (And How To Get Them Right), published by the Digital Production Partnership (DPP) argues that the media industr
12/01/2018
Support For VR Art Galleries Added To Eventual VR's Platform
Eventual VR, creators of cloud based virtual reality (VR) environments, have added support for VR art galleries to its platform. The Glasgow-based com
23/05/2018
TVC Completes Citi TV Project With PlayBox Technology's AirBox Neo
TV & Communication Systems (TVC) has completed a major project for Citi TV with the help of Playbox Technology's AirBox Neo. The project, completed in
15/05/2018
PlayBox Technology To Celebrate Product Delivery Milestone At BroadcastAsia
PlayBox Technology is set to celebrate a huge company milestone at BroadcastAsia 2018, 26-28 June, with its 18,000th product delivery. Playbox Technol
14/05/2018
VSN To Showcase Content Production Technology And More At BroadcastAsia
VSN is to showcase its array of content production and media management technologies at BroadcastAsia 2018, including AI functionalities and its VSNEx
18/09/2017
AJA And Avid Sign Technology Agreement
AJA Video Systems has announced a technology partnership with Avid to design and manufacture Avid Artist | DNxIV, a new hardware interface option for
13/09/2017
Disruptive Technology On A Massive Scale
One foot in an old camp, and one foot in a virtual new one: George Jarrett talks to IABM chief executive Peter White about global reach, the benefits
05/09/2017
Subtitling And Caption Technology At IBC 2017
The request to write a pre-IBC commentary should in my opinion always be met with elation; announcing new technologies, partnerships and game-changing