Nokia plans to cut back up to 310 jobs from its Nokia Technologies unit and halt improvement of its digital actuality digital camera Ozo and , the Finnish firm stated on Tuesday.
The unit has about 1,090 staff and the potential cuts are anticipated to have an effect on workers in Finland, the United States and Britain. Nokia employed about 102,000 staff as of end-June.
The unit will proceed to concentrate on digital well being and patent and model licensing enterprise, Nokia stated.
“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 stated in a press release.
Nokia, whose fundamental enterprise is now telecoms community gear, launched the digital camera final yr as the primary system for its digital media enterprise, certainly one of its new hopes for future development.
It was designed for making 3D motion pictures and video games that may be watched and performed with digital actuality headsets. Nokia minimize the worth of the digital camera by 25 % to $45,000 later final yr.
© Thomson Reuters 2017
Adapted From: Gadgets360