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Edition: U.S. Article Comments (3) Follow Reuters Facebook Twitter RSS YouTube Read Japan raises nuclear crisis to same level as Chernobyl | 11:49am EDT Q+A-How does Fukushima differ from Chernobyl? 6:10am EDT Missouri's Democratic AG splits with Obama over health care 11 Apr 2011 U.S. probes A380 taxiway collision in New York 6:44am EDT COLUMN-Obama, Trump and the 2012 elections:Bernd Debusmann 9:30am EDT Discussed 140 Reid says Republicans want shutdown to close clinics 124 China tells U.S. to quit as human rights judge 113 Obama, Congress struggle to find budget deal Watched South Korean "super gun" packs hi-tech killing power Mon, Feb 14 2011 Ivory Coast's Ouattara says Gbagbo to face justice Mon, Apr 11 2011 X-47B - the future of autonomous aerial warfare Fri, Feb 11 2011 Cisco kills Flip camera in reorganization Tweet Share this By Jim Finkle and Paul Thomasch BOSTON/NEW YORK (Reuters) - Cisco Systems Inc will ditch its Flip video camera division as it overhauls its troubled consumer business, following chief John Chambers' recent admission that the company had lost its... Email Print Related News Indian IT firms set for robust outlook as tech spending rises 3:47am EDT UPDATE 1-J&J names Torres to head McNeil consumer unit Thu, Apr 7 2011 Cisco CEO warns tough decisions ahead Thu, Apr 7 2011 Cisco shares rise 4 percent after Chambers comments Wed, Apr 6 2011 S&P 500 index edges higher on light volume Wed, Apr 6 2011 Analysis & Opinion 10 mistakes to avoid at tax time Tech wrap: Cisco ripe for activist assault? Related Topics Technology » Media » Stocks A Flip video camera in a file photo. Cisco will ditch its Flip division as it overhauls its troubled consumer business, following chief John Chambers' recent admission that the company had lost its way. Credit: Reuters/Mike Segar By Jim Finkle and Paul Thomasch BOSTON/NEW YORK | Tue Apr 12, 2011 11:46am EDT BOSTON/NEW YORK (Reuters) - Cisco Systems Inc will ditch its Flip video camera division as it overhauls its troubled consumer business, following chief John Chambers' recent admission that the company had lost its way. The move comes less than a week after Chambers said that he had to make some "tough decisions" about cutting spending on some product areas. The company plans to cut 550 jobs from its workforce of 73,000 and take a pre-tax charge of about $300 million for the overhaul. The charge is expected to be recognized in the third and fourth quarters of fiscal 2011. Tuesday's news appears to be Chambers' first move toward reorganizing the company. Among the steps, Cisco plans to combine its lackluster Umi home teleconferencing service with its popular TelePresence business product. The company will also change the way it manufactures its Linksys line of networking equipment. "Cisco has been sliding for a long time now. Hopefully they can right the ship," said Fred Hickey, editor of the High-Tech Strategist newsletter. He said that Cisco has been hit harder than other companies during the economic downturn because it has lost its focus on its business of selling networking equipment at a time when it faces increased competition from rivals including Hewlett-Packard Co, Juniper Networks, China's Huawei and ZTE Corp. Analysts were encouraged by Tuesday's changes, adding that they hoped Cisco would divest more products outside of its business selling routers and switches to the technology and telecommunications industries. "This is one step in concentrating the focus of Cisco on the enterprise," said Tim Ghriskey, chief investment officer of the Solaris Group. "This came faster than we would have expected. But perhaps Cisco has been studying this for a while." Cisco shares were down 9 cents at $17.38 in Nasdaq trading. Shares have lost a third of their value over the past year. Including that slide, Cisco has lost slightly more than half its value since the start of 2001, when it was almost worth $40 a share. CONSUMER DISTRACTION Analysts have been particularly critical of the way Cisco has managed its consumer division, saying it strays too far from the company's main business. Evercore analyst Alkesh Shah he expects Cisco to make other changes to its far-flung portfolio of technology products, which includes Scientific Atlanta cable TV boxes and a new line of computer servers. "This is just the beginning a series of likely changes and the series of changes are likely to bring down costs and raise margins," Shah said. The networking giant bought the Flip business from Pure Digital for $590 million in 2009, part of an acquisition spree that bolstered its consumer-oriented business and included the acquisition of cable set-top box maker Scientific-Atlanta and home router maker Linksys. It has since lost its cachet as a hot gadget, primarily because mobile phones makers now offer devices with similar functions incorporated into their handsets. 1 2 Next Technology Media Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (3) Thucydides wrote: I hope for the sake of shareholders, that Chambers does not compound the problem by doing something really stupid like retaining McKinsey & Co. to layer a bunch of garbage analysis on top of the issue. Apr 12, 2011 11:04am EDT -- Report as abuse NickBright wrote: Thank God. The ‘Flip Cam’ was the worse product for such a reputable company. Why would anyone need one of these when they could get higher quality digital cameras/smart phones for cheaper? Never saw the sense in the product. Glad they’ve recognized that extremely flawed decision and are moving on to bigger and better things to satisfy Shareholders. Apr 12, 2011 11:51am EDT -- Report as abuse NickBright wrote: Thank God. The ‘Flip Cam’ was the worse product for such a reputable company. Why would anyone need one of these when they could get higher quality digital cameras/smart phones for cheaper? Never saw the sense in the product. Glad they’ve recognized that extremely flawed decision and are moving on to bigger and better things to satisfy Shareholders. Apr 12, 2011 11:51am EDT -- Report as abuse See All Comments » Add Your Comment Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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