Cisco to close Flip camera unit as smartphones swallow its market. Why?
This article titled “Cisco to close Flip camera unit as smartphones swallow its market” was written by Charles Arthur, technology editor, for guardian.co.uk on Tuesday 12th April 2011 17.30 UTC
The networking and router company Cisco is shutting down the consumer-oriented Flip camera business that it bought for 0m in 2009. The move will mean the loss of 550 jobs worldwide, cost Cisco 0m – and disappoint thousands of users who had enjoyed the devices’ simplicity.
The shutdown, announced on Tuesday afternoon as part of a widespread reorganisation as the company attempts to rejig its business, will see Cisco reorganise its remaining consumer businesses to support its existing “key priorities” – notably the routers and switches that generate the majority of its sales.