Nokia shifts focus away from virtual reality to health technology
Nokia announced this week it is planning to shift focus away from virtual reality (VR) to health and fitness digital health.
The slower-than-expected growth of the VR market has prompted the tech giant to reduce investments in this area. This is likely to affect up to 310 of the 1,090 employed in the company. Development of further versions of the OZO VR camera will be halted, while maintaining commitments to existing customers.
When Nokia bought Withings in May 2016, it was not exactly clear what the Finish tech giant had in mind. The acquisition saw the French company’s devices and software re-branded under the Nokia umbrella. To mark the occasion, the company released two new digital health products – the Nokia Body scale and Nokia BPM+.
“Nokia Technologies is at a point where, with the right focus and investments, we can meaningfully grow our footprint in the digital health market, and we must seize that opportunity,” said Gregory Lee, president of Nokia Technologies.
“While necessary, the changes will also affect our employees, and as a responsible company we are committed to providing the needed support to those affected.”
It is now clear Nokia is looking to continue to beef up its fitness segment. The company says its aim is to have a larger impact with consumers and the medical community.
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