Cisco to shutter Flip camera business

12 Apr 2011

Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+Pin on PinterestShare on RedditEmail this to someone

Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+Pin on PinterestShare on RedditEmail this to someone

As part of a major realignment of its consumer electronics business, Cisco is to close the Flip video camera unit it acquired only two years ago for US$590m.

The closure of the Flip unit will lead to the loss of 550 jobs at Cisco.

The company plans to refocus its home networking business and tie it closer to its core networking and infrastructure business.

The EOS business which enabled media companies to provide a digital gateway to the home is also being closed.

Sales of consumer products at Cisco fell 15pc and have weighed heavily on the company’s gross margin.

Overall profits fell 18pc in the second quarter due to sliding margins.

66

DAYS

4

HOURS

26

MINUTES

Buy your tickets now!

Editor John Kennedy is an award-winning technology journalist.

editorial@siliconrepublic.com