Cisco has announced it is closing down its Flip pocket camcorder business, two years after acquiring it. According the company, the move is a part of a restructuring of its consumer business as it looks to focus on its core internet equipment activities. The announcement comes as market research company GFK revealed the pocket camcorders, which Flip helped popularize, have been driving camcorder growth and now account for over 50% of total UK sales.

Click here to read Cisco's press release

Click here to read the GFK's press release