Cisco has issued a release saying they’re going to be getting back to its five key company priorities: core routing, switching and services, collaboration, architectures and video. With this announcement also comes with them exiting certain aspects of consumer businesses, most notably closing down its Flip video camera business.

Was HD recording smartphones the downfall of the Flip model? Tell us what you think.

If you’re unfamiliar with Flip video cameras, they are a tiny, stripped-down video recorders, about the size of a digital camera. Cisco acquired Pure Digital Technologies, makers of Flip, back in March of 2009 for $590 million in stock. Cisco has stated they plan to support current FlipShare customers and partners with a transition plan.

In the release, John Chambers, Cisco chairman and CEO, said “We are making key, targeted moves as we align operations in support of our network-centric platform strategy… as we move forward, our consumer efforts will focus on how we help our enterprise and service provider customers optimize and expand their offerings for consumers, and help ensure the network’s ability to deliver on those offerings.”

With most smartphones allowing you to stream and record in HD, directly from your phone, Flip video cameras became less and less useful as time went on.