More than a decade ago, Cisco was in the vanguard of the transition from ‘fat’ WiFi access points to thinner APs managed by a centralized controller. Now, the decline, in turn, of that controller architecture has hit the company’s wireless results, as the industry moves towards a cloud-managed approach. The rise of cloud-based enterprise WLANs is benefiting Cisco’s Meraki division, and justifying the acquisition of that company in 2012. However, those gains are not yet fully offsetting the loss of controller revenues, according to CEO Chuck Robbins, on the recent analyst call to discuss quarterly results. During the Q&A session, according to NetworkWorld, Cisco said that its wireless business revenues were down 2% year-on-year in the third quarter, mainly because…