Telecoms equipment maker Nokia has announced Wednesday that it will release a new virtual-reality camera geared towards professional content creators and filmmakers. The virtual-reality camera, dubbed OZO, can capture 360-degree video with audio and can capture content for devices such as those popular headsets that allow users to immerse in virtual games.

"We're thrilled to introduce OZO to the content creation world, and to define a completely new category of virtual reality capture and playback solutions," said Ramzi Haidamus, president of Nokia Technologies, according to AFP on MSN.

Nokia was the world's top mobile phone maker between 1998 and 2011 but, after failing to respond to the rapid rise of smartphones, the Finnish company sold its handset unit to Microsoft in 2014, AFP adds.

The camera is being developed at the R&D center of the company in Finland. They have presented the device to major production groups, studios, media and technology companies in Los Angeles, aiming to conduct further tests with "industry professionals" before it is commercially released, ABC News reports.

Price and technical details have not yet been released and the first cameras are expected to roll out by the end of the year.

The announcement adds another name to the growing list of high-profile companies in the technology industry that are entering the virtual reality space, which looks to immerse users in artificial 3-D worlds, Tech Times reports.