photoIn case you needed a reminder about just how fast the pace of consumer technology is moving, Cisco Systems provided it today.

Cisco, which purchased Digital Technology, the maker of the Flip video camera in 2009, announced today it's discontinuing the device.

When it was introduced in 2006, the Flip Cam was indeed revolutionary. It was pocket-sized and shot remarkably high-quality video. Consumers loved it because it was easy to use and transfer video to either a computer or the Internet.

New meaning to ‘killer app’

But then, along came smartphones - the iPhone in particular - with built in video capability. Consumers began to ask themselves, "why do I need another device that just shoots video, when my phone can do it?"

Not only do smartphones now shoot high-def video, many phones come with video editing software, so you can produce a movie, right on your phone. All of a sudden, the Flip didn't look so revolutionary.

Will still provide support

Though it will stop making the Flip camera, Cisco said it will still support its FlipShare video-sharing services, at least for the time being.

Cisco is currently wrestling with other business issues, so outdated technology may not have been the only factor in Flip's demise. The company is cutting costs and laying off 550 employees with the move.

Still, the Flip's story is a sobering one for technology developers, underscoring the "here today, gone tomorrow" aspect of today's consumer technology world.