Nokia puts a stop on developing its VR camera

Things are not going well for Nokia as it halts the development of its Ozo spherical camera that it announced back in 2015 with a price tag of $60,000. The objective behind creating Ozo was to get into the virtual reality market but as Nokia states that the "the slower-than-expected development of the VR market" forced it to put a stop to its development and instead now focus on its digital health projects that it has acquired when it purchased Withings and its profitable patent licensing business.

The Ozo is a professional-level 360-degree 3D camera capable of live streaming, live monitoring and automatic stitching. Nokia made its entry into the VR space when the company had given up on its mobile phone business after it got decimated by the rise of Android and the iPhone and eventually sold off to Microsoft and started growing its interest in the VR space.

Nokia soon dropped its price to $45,000 when it found that the camera's sales were doing little to help sustain its continued development. This despite the fact that customers like Disney, UEFA, Sony Pictures and other big-name companies nabbed one to create their VR content, with other companies following suit.

But sadly VR never took off, partly because of the tech involved, and partly because of the relative immaturity of the market and so does Nokia’s VR business.

Nokia however will continue providing support to its current customers or those who have already purchased the devices.

Tags: Nokia, nokia VR camera, nokia Ozo spherical camera, Ozo spherical camera, vr market, digital health projects, VR space, nokia VR space, varindia