Nokia ends Ozo VR camera development

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The markets advanced during the midday with the Dow gaining 44 points to 22,805. Nasdaq added 4 points to 6,583.


Nokia will end development of its Ozo VR camera and cut up to 310 positions. The $60,000 device with eight synchronized shutter sensors and microphones never found an audience. Nokia Technologies will focus its resources on digital health devices as well as patent and brand licensing. 


The U.S. Supreme Court asked the Department of Justice for its opinion about a potential class action lawsuit against Apple for charging high commissions in its App Store. Apple is seeking dismissal of the case with the argument that only app developers have the right to sue over the commissions since it is the developers who pay the commission. The lawsuit in question was filed by consumers.


Hulu has cut the price of its entry-level plan by $2.00 to $5.99 per month. The offer is available for new customers for the first year of service with the price rising to $7.99 after the first year. While the plan comes with limited commercials, a commercial free plan is available for $11.99 per month.


In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 5 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 added 4 points to 2,549. Bitcoin climbed $62 to $4,865.


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