Finnish mobile company Nokia is rumored to be releasing a new virtual reality device under its hardware division, Nokia Technologies. The introduction of the new product is reportedly going to be held in a Los Angeles VIP event, according to a report from ZDNet.
The virtual reality hardware is expected to rival recently developed devices from other tech giants. Facebook has Oculus Rift, while Google is purportedly working on a new version of Google Glass. Microsoft, which has been Nokia's partner since its sale last year, also has a similar technology in HoloLens.
Nokia's hardware technology line is the smallest among its businesses. Speculations of a possible product release came after the company sent out invitations that read a cryptic, "Nowhere/Now Here." Others think the line may be refering to Nokia Here, the company's digital mapping service.
Nokia has not commented on the circulating rumors about the device. News of a new hardware have come in the midst of reports that the company will be coming back to the mobile business, with early 2016 considered as a possible date for its return.
Even more recently, the company's digital mapping technology, Nokia Here, has been reported to be purchased jointly by three German automobile makers. Details have been divulged in recent reports, placing the total cost of the deal at around $2.7 billion.
Nokia has also not issued a statement regarding the deal.
Over the recent years, the Finland-based company has experienced a downward spiral in mobile sales, probing massive job cuts in its mobile unit.
A small town from which Nokia employed many of its workers has reportedly plunged deeper into recession as a result of the cutoff and closing down of the company's departments.
The company has been acquired by software major Microsoft last year. Due to its poor sales in smartphone units, the $7.6 billion deal has been written off.
