Nokia plans to cut up to 310 jobs, halt VR camera development
Tuesday, October 10, 2017 IST
Nokia plans to reduce up to 310 jobs from its Nokia Technologies unit and halt development of its virtual reality camera “OZO” and hardware, the Finnish company said on Tuesday.
The unit has about 1,090 employees and the potential cuts are expected to affect staff in Finland, the United States and Britain. Nokia employed about 102,000 employees as of end-June.
The unit will continue to focus on digital health and patent and brand licensing business, Nokia said.
“The slower-than-expected development of the VR market means that Nokia Technologies plans to reduce investments and focus more on technology licensing opportunities,” it said in a statement.
Nokia, whose main business is now telecoms network equipment, launched the camera last year as the first device for its digital media business, one of its new hopes for future growth.
It was designed for making 3D movies and games that can be watched and played with virtual reality headsets. Nokia cut the price of the camera by 25 percent to $45,000 later last year.
Related Topics
Related News & Articles
Manali, which falls in Kullu district, has received heavy rainfall in the state in 24 hours, recording 127.4 mm, the Met department said.
Recently posted . 718 views . 1 min read
HCL Technologies on Tuesday said its three-day mega recruitment drive in Lucknow saw a huge turnout of 5,600 young job aspirants from the city and its neighbourho...
Recently posted . 529 views . 2 min read
KOLLAM: Within a minute of talking to Bindu S, she chokes and holds back her tears, as she speaks. She has been without a job for nearly two year...
Recently posted . 508 views . 5 min read
NEW DELHI: India’s GDP (gross domestic product) has been on the rise, with a 7.7 per cent growth in the fourth quarter establishing itself as...
Recently posted . 527 views . 3 min read
Banking, financial services and insurance segment, along with the e-commerce space are creating the most jobs in for data science and machine learning.
Recently posted . 877 views . 1 min read
Trending News & Articles
While the Uttarakhand High Court has asked to block 857 websites, the Ministry of Electronics and IT (Meity) found 30 portals without any pornographic content.
...
Recently posted . 61K views . 1 min read
The four boys as well as five school officials, including the director and principal, were arrested after the incident. The minors were presented before the Juvenil...
Recently posted . 7K views . 1 min read
Rahul was having an Italian passport and was carrying suitcase full of dollars. Some say it was about was it $2 million.
Rahul and his girl friend was th...
Recently posted . 7K views . 7 min read
True – Tr...
Recently posted . 6K views . 83 min read
More in National
In the heart of Himachal Pradesh's Dhauladhar range, lies a quaint, quiet little hamlet called Gunehar. Through verdant tea-gardens, and babbling brooks, your c...
Recently posted. 563 views . 3 min read
Responding to a question by BuzzFeed on the CAA, Nadella was quoted as saying that what is happening in the country is "sad" and "just bad"....
Recently posted. 382 views . 1 min read
Sarkar in his controversial post wondered why somebody would be "willing to buy a broken seal while purchasing a bottle of cold drink or a packet of biscuits?&...
Recently posted. 537 views . 1 min read
Recently posted . 760 views
Recently posted . 673 views
Recently posted . 1K views
Recently posted . 1K views
Recently posted . 1K views . 42 min read
Recently posted . 1K views . 94 min read
The Central Board of Secondary Education (CBSE) will issue a single document combining the certificate and marksheet for Class X board exams from this year onwards,...
Recently posted. 552 views . 1 min read
• Minimum wage is a contentious issue for both industries and workers’ groups, said an official
Recently posted. 472 views . 1 min read