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Nokia Stops Development of OZO VR Camera

by Ville-Petteri Ukonaho | Oct 10, 2017

Today, 10th of October 2017 Nokia announced that it will stop the development of its industry leading professional virtual reality camera OZO. Nokia justifies the decision with slower than expected take off of virtual reality. This is a big blow to the professional VR camera industry where OZO has been one of the leading devices since it was announced back in 2015.
Image result for Ozo
The VR ecosystem is only just ramping up. The progress is slow as it requires users adapting to a totally new way of watching content. Furthermore high quality movie grade content still has limited availability and that naturally affects to the mass adoption of the new technology.

The professional content is where these multi-lens professional cameras come to play. Nokia was among the leaders in this niche segment. However as is with many of these high priced device segments the industry quickly adapts to the leasing models rather than direct purchases which in turn slows the sales.

You can read more in-depth analysis from our extensive series of reports at:
Global 360 Camera Sales Forecast by Segment: 2016 to 2022
Global 360 Camera ASP and Revenue Forecast by Segment and Lens Configuration: 2016 to 2022
Global 360 Camera Sales Forecast by Lens Configuration: 2016 to 2022
Global 360 Camera Sales Forecast by Vendor : 2016 to 2018
 
Nokia OZO was among the pioneers in the professional 360 content creation market and is now exiting the segment it almost created self. Killing OZO leaves a void to the market and it is only a matter of time before some other vendor rushes to the spot with their similar offering. Despite slowness of the VR market the market still exists and is growing albeit slowly. Strategy Analytics Emerging Device Strategies (EDS) service continues monitoring the segment closely and will bring You up to date news and insights timely.



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