OZO VR: Nokia says Virtual Reality market is too slow

Two years ago, Nokia Technologies announced its OZO VR (virtual reality) camera. OZO is an interesting device capable of recording 360 degree video. The goal was to define a new category of VR capture and playback tools. The company has come out to say that the VR market is not developing fast enough.

Nokia Ozo VR

OZO VR Project Halted

As such, further development work on the project is being halted. An excerpt from Nokia’s announcement:

In digital media, the slower-than-expected development of the VR market means that Nokia Technologies plans to reduce investments and focus more on technology licensing opportunities. The unit aims to halt development of further versions of the OZO VR camera and hardware, while maintaining commitments to existing customers.

Shutting down the OZO VR project means that there will be some lay-offs. This will affect “up to 310 of the roughly 1090 employees in Nokia Technologies, mainly in Finland, the US and the UK”.

The OZO VR camera isn’t exactly cheap either, currently costing about $25,000. Coupled with not much consumer uptake of VR yet, it is easy to see why Nokia Technologies is discontinuing the project.

The Nokia 8 launched this year has the binaural audio recording aspect of the OZO camera implemented in it. Binaural recording is a method of recording sound that uses two microphones so the recorded sound is reproduced the way human ears hear it. Binaural recording is said to produce results beyond the capacity of regular stereo microphones.

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About Virtual Reality

If you are new to VR, we have a few articles that will shed some light on the technology:

  1. Virtual Reality (VR) vs Augmented Reality (AR): What you should know
  2. How Virtual Reality Headsets Work
  3. Here are some of the benefits of virtual reality in marketing
  4. Mobile Virtual Reality: Is Your Smartphone Compatible?

Meanwhile, have you ever experienced VR in any way? We have a headset here at MobilityArena and have played with it a bit. It was fun, but the novelty eventually wore off, especially as there wan’t much we could do with it on a day-to-day basis. Have you used the technology? Let us have your comments and experiences.

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Nokia says VR isn't developing fast enough
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Nokia Technologies says the virtual reality market isn't developing fast enough and has shut down its Ozo VR 360-degree camera project
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MobilityArena
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