Cisco announced on Tuesday that as a result of reorganising their business, they will close the Flip camera market. So the closure means that this will dissapoint most of their Flip camera fans and they've said that they will continue to concentrate on their existing "key-pirorites" such as their networking equipment that reflects mostly on their market. And the closure also means it'll cost Cisco $300m plus a job loss of 550 worldwide.
Originally, Flip was introduced by Pure Digital Technologies in 2007 ever before smartphones spiked sales from that time to 2010, thus, hindering the sales of the Flip camera when Cisco bought it in 2009 for $590m. This is mainly due to the way the Flip was designed in a compact, phone-sized style and it really didn't went well with marketing as it's pretty much like a mobile phone but with only the 720p camera lens.
So what's the future of these cameras if their parent company decided to kill it?