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Ericsson takes rosy view of VR, just as Nokia backs away from the market

Nokia and Ericsson are taking contrasting views of the much-hyped virtual reality market. Ericsson’s latest ConsumerLab report, on TV and Media, forecasts that one-third of consumers globally will be using VR by 2020 (see inset). But Nokia, despite a bid to be a frontrunner in developing VR technologies with its Ozo camera, has become the first major company in the sector to throw in the towel. The Finnish firm has announced big cuts to its Ozo VR camera team, and says it will shift its focus to other new business opportunities within its Nokia Technologies R&D and licensing unit, such as digital health, as well as networking growth areas like cable access. Nokia said the decision to halt development of…

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