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How Will Nokia (NOK) Stock React to Discounted Ozo Camera?

NEW YORK (TheStreet) -- Shares of Nokia (NOK) were higher in early morning trading on Thursday as the Finnish telecommunications giant said it will shave the price of its Ozo virtual reality camera, the first product in its digital media business, by approximately 25%.

The Ozo camera will now be sold for $40,000, versus its prior price point of $65,000. It will be sold at an equal discount when it's launched in China next month, the company said in a statement.

Nokia also announced it is partnering with LeEco, the Chinese company that recently purchased Vizio, The Verge reports. LeEco's LeVR division will be distributing Ozo content.

The spherical virtual reality...