InfoSonics Begins Shipping Its i700 verykool(R) GSM Slider Handset Into South America.
"Shipping the i700 GSM into South America represents another important step in executing on our strategy to continually broaden the geographic reach of the verykool[R] product line," said Joseph Ram, President and Chief Executive Officer. "The verykool[R] product line is our line of proprietary products, focused on diversifying revenue, driving growth and gross margin expansion for the company."
The i700, a slider form factor, is a quad-band, feature-rich wireless cellular phone that includes a 2.2 inch LCD display, 2.0 mega-pixel camera, Bluetooth wireless connectivity, an MP3 player and additional features. The product is currently shipping in three colors; black, blue and red.
Ram continued saying, "The i700 is the first verykool[R] slider form factor and the quad-band functionality offers customers the ability to use the phone anywhere in the world where GSM service is available. We are pleased to provide our South American customers choices in product form factors, features and colors."
In addition, the verykool[R] website has a new look and feel that reflect the continued work that we have done with our customers in launching and branding the verykool[R] product line. www.verykool.net
InfoSonics' verykool[R] proprietary line of mobile phones covers a full spectrum of product offerings, including entry level handsets and full featured phones, mid-tier and high end. The verykool[R] phones are compact, stylish handsets, available in multiple fashion color options and filled with the most popular features demanded by younger consumers, such as, MP3 and multimedia players; mega pixel cameras; PC Sync; expansion memory slots; and GSM tri-band or quad-band 'world phone' standards. In addition to its wireless handsets, InfoSonics' offers the verykool[R] fixed wireless phone providing cellular connectivity that is unimpeded by the limitations of copper wire, fiber or cable capacity in Latin America and other regions where cellular or traditional phone connectivity is greatly limited. InfoSonics is initially focused on selling its proprietary verykool[R] line of products to carrier customers in Latin America, with the potential for geographic expansion opportunities in the future. To view InfoSonics' verykool[R] line-up, visit www.verykool.net
About InfoSonics Corporation
InfoSonics is one of the premier providers and distributors of wireless handsets and accessories serving Latin America and the United States. For the wireless telecommunications industry, InfoSonics provides flexible and cost effective solutions, including product assembly, purchasing, marketing, selling, warehousing, order assembly, programming, packing, shipping, and delivery. InfoSonics supports manufacturers in moving their products to agents, resellers, distributors, independent dealers, retailers and wireless network operators in the Latin America and the United States. For additional information, please visit www.infosonics.com.
Cautionary Statement for the Purpose of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995
The matters in this press release that are forward-looking statements, including without limitation to statements about future revenues, sales levels, operating income and margins, wireless handset sales, stock-based compensation expense, gain (loss) in value of derivatives, cost synergies, operating efficiencies, profitability, market share and rates of return, are based on current management expectations that involve certain risks which, if realized, in whole or in part, could cause such expectations to fail to be achieved and have a material adverse effect on InfoSonics' business, financial condition and results of operations, including, without limitation: (1) intense competition, regionally and internationally, including competition from alternative business models, such as manufacturer-to-carrier sales, which may lead to reduced prices, lower sales or reduced sales growth, lower gross margins, extended payment terms with customers, increased capital investment and interest costs, bad debt risks and product supply shortages; (2) inability to secure adequate supply of competitive products on a timely basis and on commercially reasonable terms; (3) foreign exchange rate fluctuations, devaluation of a foreign currency, adverse governmental controls or actions, political or economic instability, or disruption of a foreign market, and other related risks of our international operations; (4) the ability to attract new sources of profitable business from expansion of products or services or risks associated with entry into new markets, including geographies, products and services; (5) an interruption or failure of our information systems or subversion of access or other system controls may result in a significant loss of business, assets, or competitive information; (6) significant changes in supplier terms and relationships; (7) termination of a supply or services agreement with a major supplier or product supply shortages; (8) continued consolidation in the wireless handset carrier market; (9) extended general economic downturn; (10) loss of business from one or more significant customers; (11) customer and geographical accounts receivable concentration risk; (12) rapid product improvement and technological change resulting in inventory obsolescence; (13) future terrorist or military actions; (14) the loss of a key executive officer or other key employees; (15) changes in consumer demand for multimedia wireless handset products and features; (16) our failure to adequately adapt to industry changes and to manage potential growth and/or contractions; (17) future periodic assessments required by current or new accounting standards such as those relating to long-lived assets, goodwill and other intangible assets and expensing of stock options and valuing gain or loss on fair value of derivatives may result in additional non-cash income or expenses; (18) seasonal buying patterns; (19) dependency on Latin American sales; (20) uncertain political and economic conditions internationally; (21) the impact, if any, of changes in EITF 00-19 or SFAS 133 guidance as it relates to warrants and registration rights and SFAS 123R as it relates to stock options; (22) the resolution of any litigation against the company and (23) the ability of the Company to generate taxable income in future periods in order to utilize and realize any quarterly tax benefits recorded. Our actual results could differ materially from those anticipated in our forward looking statements.
InfoSonics has instituted in the past and continues to institute changes to its strategies, operations and processes to address these risk factors and to mitigate their impact on InfoSonics' results of operations and financial condition. However, no assurances can be given that InfoSonics will be successful in these efforts. For a further discussion of significant factors to consider in connection with forward-looking statements concerning InfoSonics, reference is made to Item 1A Risk Factors of InfoSonics' Annual Report on Form 10-K for the year ended December 31, 2006, and Quarterly Reports on Form 10-Q for the periods ended March 31, 2007, June 30, 2007 and September 30, 2007; other risks or uncertainties may be detailed from time to time in InfoSonics' future SEC filings. InfoSonics does not intend to update any forward-looking statements.
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|Date:||Feb 25, 2008|
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