Nokia plans to lessen up to 310 careers from its Nokia Systems device and halt development of its exclusive truth camera ” OZO ” and hardware, the Finnish company said on Thursday.
The machine has about 1,090 employees and the cuts are anticipated to affect personnel in Finland, america and Britain. Nokia utilized about 102,000 employees by end-June.
The machine will continue steadily to give attention to digital health insurance and patent and brand licensing business, Nokia said.
“The slower-than-expected development of the VR market means that Nokia Technology plans to lessen investments and target more on technology licensing opportunities,” it said in a affirmation.
Nokia, whose main business is currently telecoms network equipment, launched the camera this past year as the first device because of its digital advertising business, one of its new expectations for future progress.
It was suitable for making 3D films and games that may be watched and used virtual reality headphones. Nokia slice the price of the camera by twenty five percent to $45,000 later this past year. Reuters