Nokia Refocuses on Digital Health Products in VR Market Rethink

Discussion in 'iOS Blog Discussion' started by MacRumors, Oct 10, 2017.

  1. MacRumors macrumors bot

    MacRumors

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    Nokia on Tuesday announced that it is halting the development of its $45,000 Ozo virtual reality camera, citing "slower than expected development of the VR market" as the reason behind the company's rethink.

    The news comes at the expense of 310 jobs in the U.S., the U.K., and Finland - the home of Nokia - as the company optimizes its investments in virtual reality and targets faster growth in digital health products and services instead.

    [​IMG]
    Nokia acquired French health tracking company Withings in 2016 for an estimated $192 million, signaling the company's long-term investment in consumer digital health and the Internet of Things sector. Withings completed its rebrand to the Nokia label in June of this year and simultaneously launched two new connected health products under the Nokia brand.

    Nokia announced the professional-grade Ozo camera back in 2015, when it had a $60,000 price tag. The 360-degree 3D camera is capable of live streaming, live monitoring and automatic stitching. Disney, UEFA, Sony Pictures and other media companies bought Ozo camera units, and Nokia later dropped the price to $45,000, but sales clearly didn't warrant continued development.

    Article Link: Nokia Refocuses on Digital Health Products in VR Market Rethink
     
  2. maflynn Moderator

    maflynn

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    #2
    Not sure why they were surprised sales were slow for a 60,000 camera, its the very definition of niche.

    It seems Nokia is in search of a business or product to get behind, they've dabbled in VR, health and mobile communications
     
  3. Delgibbons macrumors 6502a

    Delgibbons

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    #3
    45 grand is insanely expensive.

    Other 360 cameras from Samsung, Theta have fared better.
     
  4. jonnysods macrumors 603

    jonnysods

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    I miss the old Nokia. This was my fav phone from that era.
     

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  5. djcerla macrumors 68000

    djcerla

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    #5
    Searching for businesses or products is literally what they've always done. They started in 1865 with pulp mills.
     
  6. Delgibbons macrumors 6502a

    Delgibbons

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    I had the 7110. Loved it.
     
  7. Hater macrumors 6502a

    Hater

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    #7
    Yeah, I don't think a film studio is going to bother with consumer grade crap.
     
  8. Delgibbons macrumors 6502a

    Delgibbons

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  9. kaloangel macrumors newbie

    kaloangel

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    #9
    I only wish they hadn't touched Withings and their products, such a fine company got dismantled because of stupid ol Nokia
     
  10. tifa_mo macrumors regular

    tifa_mo

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    #10
    Who said they dismantled Withings? The same team is intact and running, just under a different brand name.
     
  11. eroslws macrumors 6502

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    #11
    Yeah, probably one of the better examples of acquiring a company to be honest.
     

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