This week, Nokia made the announcement that it intends to change its focus away from virtual reality (VR) and into digital health initiatives relating to health and fitness.
The reduction in expenditures made by the tech giant in the virtual reality (VR) business is a direct result of the market’s expanding at a slower rate than anticipated. Up to 310 of the total 1,090 employees at the organization could be impacted as a result of this. The development of additional variants of the OZO VR camera will come to a halt. However, promises made to existing customers will continue unabated.
It was not entirely clear what the Finnish technology giant had in mind when it purchased Withings in May of 2016, when Nokia did so. As a result of the acquisition, the products and software created by the French company were re-branded under the Nokia name. In honor of the event, the company has introduced not one but two brand new digital health products: the Nokia Body scale and the 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,” said Gregory Lee, president of Nokia Technologies. “We must seize that opportunity,” said Gregory Lee, president of Nokia Technologies. “Nokia Technologies is at a point where, with the right focus and investments,” said Gregory Lee.
Although the changes are required, they will also have an effect on our employees. As a responsible business, we are dedicated to giving the necessary support to individuals who may be affected by the changes. “
It is now quite evident that Nokia intends to continue to strengthen its presence in the fitness market. The company has stated that one of its goals is to have a greater influence on both the general public and the medical community.