It was only two years ago that Nokia announced the Ozo camera system and positioned it as a high-end option for filmmakers to capture 360-degree video. The camera originally sold for $60,000, though the price was eventually cut to $45,000. In a press statement, Nokia said it will “maintain commitments” to existing Ozo customers, though did not clarify what that means.

The company currently employs around 1,090 people in its technology arm, so the job cuts mean it will lose close to a third of its workforce in Nokia Technologies. Nokia will now focus on its digital health portfolio, which includes Withings, the company it purchased in 2016. "Nokia Technologies is at a point where, with the right focus and investments, we can meaningfully grow our footprint in the digital health market, and we must seize that opportunity," said Gregory Lee, president of Nokia Technologies in a statement.