Tuesday, April 12, 2011

Cisco Chop 550, Kills Flip

San Jose-based Cisco is moving away from its recent shift into the consumer business, saying today that it has shut its Flip video business and cut 550 jobs. Cisco acquired San Francisco-based Pure Digital, the maker of the Flip video camera, in March of 2009 in a deal which was worth $590M in stock. The move shifts Cisco away from a recent move towards the consumer end of the market, and back towards its enterprise roots.