NOKIA'S VIRTUAL REALITY OZO CAMERA will retail for a whopping $60,000 (about £40,000) when it becomes available early next year.
Initially unveiled in July, OZO is a spherical camera featuring eight sensors and microphones designed to make 3D films and games that can be watched and played with virtual reality (VR) headsets.
Nokia announced the commercial availability at a press event in Los Angeles on Monday, revealing more technical specifications and pledging to "define a new category in professional VR capture".
"We're at the dawn of an exciting new medium that will transform the way people connect to stories, events and the world around them," said Nokia Technologies president Ramzi Haidamus.
"OZO is a powerful tool designed for the professional creators who will answer the most exciting and intriguing questions about the possibilities for VR."
OZO is described as "the first VR camera system specifically designed for professional production", which explains its rather ridiculous price. It is targeted at Hollywood and media professionals, rather than consumers.
Nokia is adamant that OZO is the first to bring these kinds of VR features to market, including real-time VR preview, wireless operation and full 3D 360 audio and video broadcast capabilities.
These features are achieved with some impressive pieces of kit. There are eight synchronised 2Kx2K sensors for the video sensor array, full spherical 360x180 degrees coverage with a 195-degree angle of view per lens, and full spherical, 360x360 degree audio capture. There's also a fanless cooling system and a rechargeable lithium ion battery pack supplied.
Nokia demonstrated OZO's capabilities in a live performance by the band Best Coast at the event on Monday, broadcast in full 3D 360 VR from the roof of the Capitol Records building in Hollywood to downtown Los Angeles over Internet Protocol seven miles away.
OZO is expected to be available to buy from the first quarter of next year. It can be pre-ordered now with a deposit of $5,000. Check out the dramatic video below for a better idea of what it looks like.
OZO is clearly a different angle for Nokia, which is known for its smartphone success in the 1990s. However, it could just be a one-off as Nokia confirmed rumours in July that it will return to the mobile phone market in 2016.
The firm said that it will commence such work only when a binding agreement with Microsoft ends, and when a new relationship is made. However, the company noted that "it's complicated".
Robert Morlino, a spokesman for Nokia Technologies, said: "If and when we find a world-class partner who can take on those responsibilities, we would work closely with them to guide the design and technology differentiation, as we did with the Nokia N1 Android tablet." µ
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