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 Cisco Systems Inc. said it will drop its iconic Flip camera business as part of a broader retrenchment that suggests the company's campaign to build a consumer brand has largely failed. 
 
 The networking company's moves—expected to trim 550 jobs and trigger a $300 million quarterly charge—follow an internal memo from Chief Executive John Chambers last week that promised tough decisions in the wake of recent lapses in execution. Besides the heavily promoted Flip, Cisco discussed changes affecting a high-profile consumer video-conferencing line introduced last year and a home-networking unit that includes its Linksys wireless routers. 
 
 Mr. Chambers, in a statement ...
– Flip video cameras were so hot two years ago that Cisco Systems shelled out $590 million to buy the startup that built them. So much for that. Cisco announced today it was shutting down its Flip business, reports the Huffington Post. The easy-to-use gadget had its moment—the Wall Street Journal uses the word "iconic" in its product obituary—but it was done in by ever-advancing smartphones. "The writing was on the wall for the Flip video business," writes Leena Rao at TechCrunch. "In a world where consumers can now record and stream video directly from their iPhone, Android or BlackBerry phone, Flip’s video camera business is no longer novel or useful." As part of its restructuring, Cisco also plans to lay off 550 employees. Click through here to read the company explanation.