Nokia, rethinking its business strategy, said it would stop producing its OZO virtual reality cameras and instead shift its focus to health products and patent licensing. The company is laying off up to 310 people as part of the move, reports Tech Crunch.
The employment cuts will affect Nokia Technologies' U.S., U.K. and Finland locations.
"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," Gregory Lee, president of Nokia Technologies, the division responsible for Nokia's VR efforts, said in a statement. "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."
In June, Nokia launched a line of connected consumer health products following its acquisition of the electronics company Withings.
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