I have 6 WYZE cameras running on my WiFi network, and I tried to set up WYZE CAM PAN V3 I bought a while back. When I power it up, before depressing the setup button, it says Ready To Connect. I check the box indicating I heard this, and it goes to the QR code. I hold the iPhone up over the camera, and it never reads the code. sometimes it moves, says Ready To Connect, and rarely after it does so, I hear QR code read, or something like that. But the camera setup never completes. I have tried resetting the camera, and the issue repeats.
Is the camera defective?
Could be. I have found I needed to move the QR code further away or closer to the cam. I think I had to give better background lighting at least one time.
I tried numerous times to set up the camera. At one point, the camera did recognize the QR code, and was added to my system. I then named the camera, but when I went to view the output of the camera, it said that there was a weak internet connection. I have 6 other WYZE cameras running and I did a speedtest - 600+Mbps down and 20+ Mbps up. I reset the new camera, and it was no longer seen by my iPhone. I tried calling customer support and after over an hour, I ended the call. I just wrote WYZE a letter explaining the issue, and I will await their response. Maybe I will start looking for a new camera system!
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Can you return the faulty camera? I always buy from Amazon due to their no-hassle returns.
Keep in mind your internet speed isn’t necessarily the factor. 2.4Ghz wifi has very limited bandwidth and it gets worse when cameras or other devices are far away from the router. But I would expect all your cameras to be having issues if the new one put it over the tipping point. As @ssummerlin said may make sense to exchange it just to rule it out.
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I bought 4 of the Pano V3 cameras a longtime ago and I do not know if I got them direct from WYZE or from Amazon. In either case, they would be long past any return window. By the way, the other three Pano V3 cameras work fine.
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I responded to @ssummerline indicating that the cameras were purchased a long time ago, either from WYZE directly or from Amazon. In any case, the camera is well beyond any return window. As far as limited bandwidth, I just added the two additional Battery Cam PRO cameras to my list of operating cameras and now all 8 show up properly. The only camera that will not work is the 4th Pan V3 I have been unsuccessfully trying to get up and running.
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If you’re beyond the 1 year warranty, you may just have to call it a loss (we’ve actually discussed things like this in a couple other threads, testing everything when you buy it, we’ve all been bitten at one point or another).
However as one last “hail mary” I would attempt the manual firmware update process with the latest firmware (see https://support.wyze.com/hc/en-us/articles/360031490871-How-to-flash-your-Wyze-Cam-firmware-manually) however I believe where the instructions say to put it in a folder, you actually just want to put the file on the root of the SD card. There are youtube videos walking you through it.
It may just be the firmware is too old to authenticate with their servers so the latest one might make it work. Factory reset it both before and after the manual update just for good measure (you hold the setup button for like 20-30 seconds).
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Well that did not work. I downloaded the file, un-zipped it and removed the SD card from the camera. I formatted the SD card and then copied the un-zipped file onto it. I inserted the SD card with the firmware update file into the camera, and while holding the Setup Button, I applied power. I held down the Setup Button for 3-6 seconds, and the camera never went into the firmware flash process. The status light was red - not solid purple, like it was supposed to be. And then the camera said it was ready to connect.
I guess I will have to bite the bullet and relagate this camera for use as a doorstop!
The manual update process is picky. Make sure you’re using a 32GB or lower card (some say 16GB) and format it to FAT32.
There are supposedly some youtube videos out there that step you through it, haven’t looked them up.
Just out of curiosity, can you check what your WiFi signal strength is at that location. Could be a dead spot. Pipes or metal cabinets in the way, too far. Try getting it up and going near your router or at least in line-of-sight with it. I’ve got one that didn’t want to work, moved it about 6" and it was fine.
You can check your WiFi signal for each camera from the Settings / Camera Info screen.
ALSO, despite the camera saying that it was ready, I still hit the little button before proceeding anyway, and got another I’m Ready prompt. Always worked that way.
When I was trying to set up the PAN V3, it was sitting on the desk one foot from the Spectrum router with nothing else in between. All the other WYZE cameras are from 5’ to 50’ from the same router and are working properly.
I am sure someone will say you’re too close. 
It is technically possible but if they’re on the same vertical plane (router isn’t up higher than the camera) it is unlikely on a standard powered home AP.
My work laptop can’t use wifi as it is positioned about 4 feet almost directly underneath my AP and gets terrible performance. Of course since I rarely move it, I hardwire it anyway (when connecting to other countries, every bit of latency savings helps).
Decades ago when they installed the antenna on top of the prudential center used by several 50,000 watt radio stations and a couple 100KW TV stations, people living within a mile or so got terrible reception, the signal just overshot them. They had to install a few low powered downward angled antennas to cover the center of the city.
RF is fickle.
Ha. I never thought of that situation. 
Not an issue these days, all the tall buildings help reflect some of the signal down into the city. But back then Boston had very few tall buildings.
When I lived in the middle of the city in the late 90s it was the opposite problem, could get all the stations from in the city just fine, even low powered, low mounted college radio, but ones with antennas outside of the city (including my favorite hard rock station) you had to pull out some of the old TV tricks. Tin foil, wire hanging out the window, freshman holding the end of the antenna with the other arm over their head, etc.
We ran an unlicensed radio station at my college, 1 watt and the antenna intentionally mounted on top of a short 1 story building so it wouldn’t go too far outside our campus. But the buildings helped funnel the signal pretty far and the FCC eventually paid a visit when another college on the other side of the city (big communications school with their own high powered radio station) complained. Jerks.
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Reset to factory default. Press setup for about 10~15 seconds. Also, try scan code on instructions leaflet instead of phone. Good luck.
I set up the other 8 cameras in exactly this way - the three other Pan V3 received with the 4th one that will not activate.
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I live in a pine forest, and am 5 miles from the nearest city of about 30K
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Did all of this multiple times. Still nothing.