Goodbye Flip Camera, For Good.
We all knew this day would come as camera phones quickly advanced. Cisco has just announced that it would be discontinuing the Flip and returning to the core network-equipment business.
The Flip became popular during the years of 2006 to 2009 as a must-have digital video camcorder created by Pure Digital Technologies, which was later bought by Cisco Systems for $600 million. The original was called the “Pure Digital Point & Shoot,” and was sold through CVS stores. It became popular after a bunch of celebrity endorsements hit the air and was renamed to “Flip Video.” The most popular version, Flip Ultra, went on to become the best-selling camcorder on Amazon.com.
The move comes after Chief Executive John Chambers conceded in a memo last week that the company had suffered a lapse in operational execution, the Wall Street Journal reported.
According to MSN, Cisco will cost less than $300 million to restructure its consumer businesses, which includes cutting about 550 jobs.