Tech Article 4/15

Cisco Abandons Flip

Cisco decides to kill Flip and cut 550 employees.  Cisco is abandoning the Flip digital camera company, which was bought in March 2009 for nearly 6 million dollars.  As sales grow for smartphones with HD video cameras, there is no need for single-use devices.  Flip's sales grew last quarter grew 15% year-over-year, but Cisco expected them to grow 30%.  Cisco thought it was the right move to abandon Flip.