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Ina Fried Oct 10
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Nokia giving up on its VR effort

Nokia is scrapping plans for future versions of its Ozo VR camera. Photo: Nokia

In an abrupt about-face, Nokia said Tuesday it will halt work on future versions of its Ozo virtual reality camera and cut up to 30 percent of the staff in its Nokia Technologies unit.

Why it matters: The VR market has been slower than expected to take off, resulting in several casualties. Intel said last month it was cancelling its Project Alloy reference design for VR headsets.