In July, Finnish telecoms firm Nokia released a virtual reality camera called OZO in what was its first hardware release since it sold its devices business to Microsoft for $7.5 billion last year.
The launch of OZO came as a surprise to many but it marks Nokia's slow first steps back into the consumer space in which it hopes to spark a "consumer revolution".
"If you think about Nokia today, we really have this desire to incubate new growth markets for the company," Guido Jouret, chief technology officer at Nokia Technologies, told CNBC in an interview at the Slush technology conference in Helsinki, Finland.
"Nokia has deep deep expertise in optics, sensors and audio. And when you put all those things together, you say, what new methods do we think are going to revolutionize media and entertainment? And we clearly believe that is virtual reality."
OZO is a ball-shaped device with eight cameras in it. Jouret explained that it is the size of a human head with each camera spaced out at the same distance as two eyes in order to create a realistic perspective when a person watches the finished product.