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Nokia first big name to bail on VR, plenty will follow

Nokia reinvented itself in 2017 to become one of the front runners in developing virtual reality technologies, with countless overinflated industry forecasts relying heavily on the Finnish firm’s shoulders. This week Nokia is the first major company to throw in the towel, announcing big cuts to its OZO VR camera sector, and we feel this may trigger a host of other leaders in VR to instead pursue opportunities with a more immediate return on investment. Our initial concern upon seeing the news was how the cuts could affect Nokia Bell Labs, the company’s research arm, as well as the numerous partnerships Nokia has picked up this year with some expert OTT vendors. These two factors alone had installed just a…

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