Cisco kill flip line of camcorders, axing 550 employees in restructuring effort

Oh flip, how far you've come. And, of course, how far you have fallen. Once a spunky upstart with strange camcorder, you got from Cisco in the spring of 2009 for a strong $590 million Creative Commons marked aufgeschnappt. Now, are according to Pocket lint, you (and your moustaches) for done. Cisco CEO John Chambers says that the brand as the company is made, done sent by the distribution of HD sensors in smart phones and PMPs and the like. We had been waiting for the products of the company's next (if you remember, a WiFi-enabled MINO HD hit of the FCC just a few months back), but at this point, it looks like those hopes and dreams remain unfulfilled. We are waiting for comment from the company, and as it in flying updated.

Update: looks like the "exit some consumer operations" to 550 employees will be left of work will result. If you will remember reported the outfit in February that sales of consumer products 15 percent, sank during profits as margins slipped a fourth consecutive of quarter 18 percent slipped. In the meantime UMI is the integrated Telepresence product line and work through Enterprise and service provider go-to-market model. In other words, Skype ate only UMI's lunch.

Cisco restructures consumer business

SAN JOSE, CA-(Marketwire - April 12, 2011) - within the framework of the company's comprehensive plan, set up your operations, Cisco (NASDAQ: CSCO) today announced that it aspects of its consumer business to stop and new, the remaining consumer business ausrichten-support four of his five important business priorities - core routing, switching and services; Cooperation; Architectures; and video. As part of his plan, Cisco is:

* Close the flip trade and support current Flipshare customers and partners a transition plan to.
* Realignment of Cisco home networking business for greater profitability and connection with the company's central components of the network infrastructure of the network in a video platform in the House expanded. This industry-leading products by distribution channels for retail available.
* Cisco UMI to business TelePresence product line of the company integrate and operate an enterprise and service provider go-to-market model, consistent with existing business efforts Telepresence.
* Evaluate core video technology integration of Cisco's EOS media solutions business or other market opportunities for this business.

"We are key, purposeful movements such as we adjust the operations to support our network-centric platform strategy," said John Chambers, Cisco Chairman and CEO. "As we move forward, our consumers our company concentrates efforts to do so, as we and service provider customers optimize and expand their offerings for consumers, and ensure that the network ability to access these offers to deliver."

In connection with the changes to the consumer business, it is assumed that Cisco restructuring the GAAP not more than 300 million US dollars while the third and fourth quarter fiscal year 2011 recognizes financial results, with aggregate pre-tax impact. The charges will be shown in upcoming earnings conference calls and quarterly form 10-Q filings. In addition, the company expects that this 2011 takes fiscal year to a decline of approximately 550 employees in the fourth quarter.

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