Nokia Halts Production on $60,000 USD VR Camera

“Due to slower-than-expected development of the VR market.”

By
Tech
1,847 Hypes 0 Comments

Two years after it was first announcedNokia has revealed that it will be halting the production of its Ozo spherical VR camera — a product with the “capability of recording its surroundings in a 360° video, the device records to 500GB worth of memory” — after slower than expected sales.

The company first dropped the price of the camera from $60,000 USD to $45,000 USD, before deciding to halt production entirely and releasing laying blame on “the slower-than-expected development of the VR market.” In addition to the development stoppage, Nokia will be cutting up to 310 jobs that were involved with the camera’s production. Instead of the Ozo, Nokia will now move its focus to digital health projects.

In more promising news for the brand, get an early look at one of its newest projects — the Nokia 8, which leaked earlier this year.

Read Full Article
Source
Engadget

Join Our Discussions on Discord

The HYPEBEAST Discord Server is a community where conversations on cultural topics can be taken further.

599 Users Online

What to Read Next

DENIM BY VANQUISH & FRAGMENT Drops Military-Inspired Collection
Fashion

DENIM BY VANQUISH & FRAGMENT Drops Military-Inspired Collection

Patchwork pieces and army references.

Eytys Gives a Guided Tour of Stockholm's Best Spots
Fashion

Eytys Gives a Guided Tour of Stockholm's Best Spots

Everything from brutalist TV towers to where the duo first met.

Hi-Tec Celebrates 40-Year Legacy With New HTS74 Collection
Footwear

Hi-Tec Celebrates 40-Year Legacy With New HTS74 Collection

Mixing original silhouettes with modern technology.


Wood Wood Goes Back to Basics With "Double A" Capsule
Fashion

Wood Wood Goes Back to Basics With "Double A" Capsule

Also marking a new focus on sustainability.

Stone Temple in India Gets an Eye-Catching All-Black Treatment
Design

Stone Temple in India Gets an Eye-Catching All-Black Treatment

Darkness to give the impression of lightness.

Kodak Black Indicted Over Sexual Assault Allegations
Music

Kodak Black Indicted Over Sexual Assault Allegations

The incident allegedly took place in early 2016.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.