Cisco Shuts Down Flip, Its Video Camera Unit

Cisco, the computer-networking giant, announced Tuesday that part of its restructuring plan will including shutting down the company’s Flip video camera division that it bought just two years ago for $590 million.

The decision marks a retreat from the consumer market for Cisco, which purchased Pure Digital Technologies, Flip’s parent company, in March of 2009 in a stock transaction.

“We are making key, targeted moves as we align operations in support of our network-centric platform strategy," said John Chambers, Cisco’s chief executive, in a statement. “As we move forward, our consumer efforts will focus on how we help our enterprise and service provider customers optimize and expand their offerings for consumers, and help ensure the network’s ability to deliver on those offerings.”

Read Full Article from New York Times

- Posted: 2011-04-12 10:54:15

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