Cisco announced today that it will be restructuring and realigning the company’s business focus, and as a part of that process will close down its popular Flip video business.

Flip video cameras gained popularity on the market as a low cost alternative to the digital video camera. Their rise in popularity was in part due to the use by tweens and teens who used the cameras to take video and upload it to many social networking sites. As phones and other electronic devices have improved the capabilities of their cameras, the need for a standalone device has diminished.

Cisco has chosen to focus its business on four top priorities, according to the announcement. Routers and switches, collaboration, architectures and video will be the main goals of the company as it moves forward. 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.” This plan does not include the Flip video business.

The announcement indicated that current FlipShare customers do not have to worry about this impact on them. Cisco said they will continue to support FlipShare customers through a transition plan.