Cisco has confirmed they will be discontinuing the popular Flip camcorder. Cisco purchased the Flip in Spring 2009 for $520 million in stock. 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.
It is unknown why Cisco chose to close the Flip division rather than sell it off. The closing will leave over 550 employees looking for work.
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