Belkin's hopes of allowing users to wirelessly stream HD content around the home have been dashed the company has said.

First announced at CES in 2008, Belkin hoped that the device, named FlyWire, would allow users to stream 1080p content around the home without the need for wires.

However, on Friday that dream came to an end with the company blaming price and the economic downturn for the decision.

"We realize that its retail price of $1499 would be out of line given the current state of the economy. With that in mind, we’ve opted to halt production of FlyWire", Belkin said in a statement, before confirming "We will no longer be introducing FlyWire to the market at this time".

At the time of the announcement, Belkin believed the unit would cost around $499 and $599.