Nokia Corporation (ADR) (NOK) Sets $60,000 Price Tag on Latest Virtual-Reality Ozo Camera

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Stock in Nokia Corporation (ADR) (NYSE:NOK) is up quite a bit today in afternoon trading after the company finally set its price for their upcoming Nokia Ozo virtual-reality camera. That price tag is certainly out of the range for most individuals, coming in at a whopping $60,000.

Originally unveiled this past summer, the Nokia Ozo is expected to ship sometime in early 2016, if you can afford it. Obviously, telling by the price tag alone, this camera isn’t intended for personal use, but rather business and professional purposes. Nokia themselves are marketing it as the “world’s first professional virtual reality camera”.

The camera features the ability to record 360×180 degree “spherical” video using 8 individual 2K x 2K image sensors recording at 30 frames per second. On top of this it features 500 GB of storage and incredible 360×260 surround sound.

The stock is up 2.64% or $0.19 after the news, hitting $7.4 per share. About 7.10 million shares traded hands. NOK has declined 6.00% since April 28, 2015 and is downtrending. It has underperformed by 5.11% the S&P500.

Out of 6 analysts covering Nokia (NYSE:NOK), 4 rate it “Buy”, 1 “Sell”, while 1 “Hold”. This means 67% are positive. Nokia was the topic in 6 analyst reports since August 26, 2015 according to StockzIntelligence Inc. TheStreet upgraded the stock on October 16 to “Buy” rating. Deutsche Bank upgraded the shares of NOK in a report on September 21 to “Buy” rating. Finally, Nordea upgraded the stock to “Sell” rating in a September 1 report.

Nokia Corporation invests in technologies. The company has a market cap of $29.68 billion. The Firm operates through three business divisions: Nokia Networks, HERE and Nokia Technologies. It has 26.04 P/E ratio. Nokia Networks offers network infrastructure software, hardware and services.

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