Nokia has taken the wraps off its Virtual reality camera dubbed the Ozo which will cost a pretty penny – $60,000 to be precise.

Ozo is targeted at professional VR content creators, and the Finnish company touts the Ozo as the first-ever professional VR camera in the world.

"Expertly created. Intelligently designed. Purpose-built. OZO is the world's first professional Virtual Reality camera," says Nokia. "Capturing 360° spherical video and 360x360 surround sound with unique interactive monitoring, OZO increases both the quality and efficiency of Virtual Reality production."

Nokia unveiled the Ozo earlier in July this year and the company's President Ramzi Haidamus had divulged that with VR set to augment the manner in which one communicates, Ozo would be at the "heart of this new world."

At that time, Nokia has not spilled the beans on the price of the camera or its specifications. However, last Nov. 30, the company ended the suspense.

The Ozo VR camera basically resembles a ball that has eight 2K x 2K cameras. These cameras have been placed at equal distance from each other to simulate the space between the human eyeballs and create a 360-degree field of view. Ozo can capture stereoscopic 3D video, thanks to its synchronized shutter sensors. The Nokia-made VR camera also houses eight built-in microphones for an immersive experience.

The Ozo VR camera's head measures 10.4 x 6.7 x 6.3 inches without the mount. Made of milled Aluminum alloy, the camera weighs 9.3 pounds with the battery.

While the Ozo can capture images with ease, what makes the VR camera stand out is its ability to assemble the camera feed real time, which enables VR live streaming. One also has the option to save the footage to view later, thanks to the removable SSD.

The interchangeable Digital Cartridge can record up to 45 minutes of both audio and video data, which is then saved as a single file.

The wireless control software and the camera's real-time monitoring capabilities are able to display all of the device's viewpoints with ease. This is a handy feature as one can adjust the sensors precisely while on-the-go. Ozo comes with an output cable, as well as a power and memory cartridge.

The $60,000 Ozo VR camera from Nokia is now up for pre-order and is anticipated to start shipping in Q1 2016.

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