Multimedia journalists’ favourite the Flip video camera is to be discontinued.

In a release sent out today, Cisco, which bought out the mini video camera with built-in USB two years ago, said it is to shut down its Flip business.

Cisco said it will “support current FlipShare customers and partners with a transition plan”.

Launched in May 2007, the Flip had sold a million digital camcorders in the US by the following year and was becoming increasingly popular in the UK.

In a release in 2008, Cisco reported the Flip captured 14 per cent of the total video camera market and was worth more than £340 million.