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August 19, 2016

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OZO camera points to Nokia’s return

NOKIA’S OZO virtual reality professional camera marked the former smartphone vendor’s return to China after the firm sold its handset business to Microsoft three years ago.

OZO, which integrates eight cameras and allows 360 degree video shooting, will start distribution in China next month. Nokia also unveiled the OZO will cost US$45,000 in the US and 40,000 euros in Europe. Prices for China have not been announced yet.

Nokia yesterday also unveiled a tieup with Chinese firm LeEco on virtual reality. LeVR, the VR division of LeEco, will distribute OZO content.

“We see tremendous potential for OZO in China, an exciting market with immense growth opportunities for VR and OZO,” said Ramzi Haidamus, president of Nokia, in Shanghai yesterday.

“There’s a genuine hunger among consumers for more immersive, high quality and professionally produced entertainment,” he said.

China’s virtual reality market is set to grow to 55 billion yuan (US$8.3 billion) by 2020, or a 36-fold jump from 2014, according to iResearch.


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