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Cisco, the parent of Flip cameras, has announced plans to close out the popular Flip video camera line in a cost savings move. This was unexpected and surprising, since Flip is so popular and Cisco paid about $550 for the line recently. But the pressure to cut losses forced the decision.
From Reuters: "Last year Cisco sold 23 percent of all camcorders in the United States, ahead of Sony Corp's 22 percent and Eastman Kodak's 12 percent, according to market research firm NPD Group. Those figures exclude sales by Wal-Mart Stores Inc and some club stores. NPD does not release data on total units sold or market value.
Cisco said it would clean out its Flip phone inventory before ending the product line. It is almost unheard of for a manufacturer to kill a top selling product in its category."
From Reuters: "Last year Cisco sold 23 percent of all camcorders in the United States, ahead of Sony Corp's 22 percent and Eastman Kodak's 12 percent, according to market research firm NPD Group. Those figures exclude sales by Wal-Mart Stores Inc and some club stores. NPD does not release data on total units sold or market value.
Cisco said it would clean out its Flip phone inventory before ending the product line. It is almost unheard of for a manufacturer to kill a top selling product in its category."