Cisco says it will close down its Flip business
As part of a restructuring of its consumer business, Silicon Valley giant Cisco announced this morning that it will be shutting down its Flip business. Cisco will continue to provide support for current customers.
“We are making key, targeted moves as we align operations in support of our network-centric platform strategy,” said John Chambers, Cisco chairman and CEO, in the company’s statement. “As we move forward, our consumer efforts will focus on how we help our enterprise and service provider customers optimize and expand their offerings for consumers, and help ensure the network’s ability to deliver on those offerings.”
Cisco will also said it will “refocus” its home networking business to align with its “core networking infrastructure” — is this corporate talk for eliminating the overlap between enterprise and consumer networking products? In any case, the announcement reads like an acknowledgement that Cisco has not been performing as well as it would like in areas outside its B2B areas of expertise. Unfortunately, the “refocus” effort will result in the loss of 550 jobs this quarter, according to Business Insider.