Cisco Kills the Flip
Woah, We didn't see this coming. After spending US$600 million and then tons of promotions and marketing, Cisco has just decided to kill the Flip range of mini video recorders. As a result of this move, Cisco will also lay off 550 positions in the next three months.
cnn.com - Cisco announced Tuesday that it is exiting several consumer businesses, including Flip, and laying off 550 employees. The networking giant said its new strategy is to serve most consumers indirectly through its business customers, rather than making products that shoppers buy straight from Cisco.
Full article here.