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Cisco, the computer-networking giant, announced Tuesday that part of its restructuring plan will including shutting down the company’s Flip video camera division that it bought just two years ago for $590 million.






The Flip video camera had been one of the great hardware-start-up success stories of the previous decade. Conceived by a small number of engineers in an office above Gump’s department store in San Francisco, the camera went on sale in 2007 and went on to dominate the camcorder market, selling two million units in its first two years and remaining the top-selling camcorder on Amazon to this day.