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.

21/02/2020
Triveni Digital Shifts Focus To ATSC 3.0
Triveni Digital is focusing its efforts on ATSC 1.0 and ATSC 3.0 for the NAB Show. As broadcasters migrate to NextGen TV, simulcasting will soon be a
20/02/2020
Bannister Lake To Focus On Chamelon At NAB 2020
Bannister Lake will be focusing on its industry-leading data aggregation and management solution Chameleon and how the product adds value to a wide va
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
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
25/08/2020
Riedel Managed Technology Staff Maintains Safe Social Distancing
Riedel Communications' all-new DisTag distance monitoring device is playing an essential role in the company's gradual resumption of on-site operation
17/02/2020
OWNZONES To Demonstrate Breakthroughs In Content Supply And Chain Technology
At the 2020 HPA Tech Retreat, OWNZONES Entertainment Technologies will demonstrate several new industry-leading breakthroughs in content supply chain
14/02/2020
Considerations When Deploying Cloud Technology In The Broadcast Industry
Central to modern cloud strategy is the ability to integrate best-of-breed tools into a system that best fits the individual needs of a specific enter
11/02/2020
ES Broadcast Announces New Head Of Technology
ES Broadcast has appointed Rob Newton as its Head of Technology. He joins the company after more than 30 years with NEP. The appointment will see Rob
03/02/2020
LiveU To Demonstrate Powerful Live IP Bonding Technology
At this year’s CABSAT, LiveU will be demonstrating its powerful live IP bonding technology, taking advantage of the faster speeds and guaranteed high
29/01/2020
Brompton Technology To Launch Tessera S8 LED Processor At ISE 2020
Brompton Technology is to launch its new Tessera S8 LED processor at ISE 2020 in Amsterdam, Stand 12-C117. The Tessera S8 is a cost-effective solution
02/12/2019
Flint Insurance Upgrades Media Entertainment Technology Practice
Having looked after both CEDIA & PLASA members for over 25 years, they have now included their burgeoning technology insurance business too. As you ma
15/11/2019
PlayBox Neo Reports Successful Broadcast Technology Event
PlayBox Neo has reported a highly successful Broadcast Technology Event, held in Lagos, Nigeria, fro - 6 November. Organised by UK-based Medialogy, it
28/10/2019
Media Technology Day Returns For Third Consecutive Year
Following the tremendous success of the past two years, Media Technology Day returns to the Ham Yard Hotel in Soho on Thursday, 31 October. The FREE a