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Flip Cam Being Discontinued by Cisco

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Today, Cisco gave Flip Cam fans the one-fingered salute by announcing that they're discontinuing their on-the-cheap camcorder.

In addition, 550 Cisco employees will be canned at the end of the 2011 fiscal year.

In 2009, Cisco bought the technology from the upstart Flip company for $590 million in stock. The affordable point-and-shoot device became popular with world travelers and anyone who fancied capturing and uploading an experience to sites like YouTube and Vimeo.

Now, two years later, Cisco is abandoning the product, most likely due to smartphones' advancements in capturing moving pictures in HD. The company, in February, announced a 15-percent dip in consumer product sales so this is a way to pay heed to the bottom line.

As of the time this post was published, no other company had publicly expressed interest in keeping the Flip Cam in existence.

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