Cisco killing Flip line of camcorders, axing 550 employees in restructuring effort

Oh Flip, how far you've come. And, of course, how far you've fallen. Once a spunky upstart with oddly shaped camcorders, you got snapped up by Cisco in Spring of 2009 for a hefty $590 million in stock. Now, according to Pocket-lint, you (and your moustaches) are done for. Cisco CEO John Chambers says the brand is being dispatched as the company refocuses, done in by the proliferation of high-definition sensors into smartphones and PMPs and the like. We had been waiting for the company's next products (if you'll recall, a WiFi-enabled Mino HD hit the FCC just a few months back), but at this point, it looks like those hopes and dreams will remain unfulfilled. We're awaiting comment from the company, and will update as it flies in.

Update: Looks like the "exit of some consumer operations" will lead to 550 employees being left out of work. If you'll recall, the outfit reported in February that sales of consumer products sank 15 percent, while profits slipped 18 percent as margins slid for a fourth consecutive quarter. Meanwhile, Umi will be integrated into the company's TelePresence product line and operate through an enterprise and service provider go-to-market model. In other words, Skype just ate Umi's lunch.

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Source: http://www.engadget.com/2011/04/12/cisco-killing-flip-line-of-camcorders-shakes-fist-at-hd-recordi/

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