Nokia, the once-mighty phone maker that eventually retreated to a business based around networking equipment and targeted verticals like health and imaging, is thinking its business strategy once again. Today, the company announced that it would cease building its pricey OZO virtual reality cameras after finding that the VR market was developing “slower-than-expected”. It will instead shift its focus more to health products and patent licensing. Nokia is laying off 310 people as part of the move.
Nokia pulls out of OZO VR hardware, lays off 310, steps up in health and patents | TechCrunch