InfoSonics
Corporation (NASDAQ:IFON), one of the premier providers and
distributors of wireless handsets and accessories serving Latin America
today announced that its verykool®
i250 handset won the star award in the Best Cell Phone Category during
PC World’s Latin America Awards presentation
held in Miami on September 25, 2008.
The annual PC World Latin America Awards is the most respected awards
ceremony in the Latin IT industry, recognizing the best IT and consumer
electronics products and solutions available in the region. This award
is presented by PC World Magazine, the most trustworthy and experienced
IT magazine serving the information needs of the region's small to
mid-sized business community as well as consumers who are in search of
the best industry products and services available in Latin America.
The verykool®
i250 has an attractive and functional design, complemented by superb
image quality which is attributable to the integrated 2 Megapixel photo
and video camera, which becomes a web cam by simply connecting it to a
personal computer. The i250 offers external memory (microSD) to allow
users to transport personal files and music easily, delivering stereo
sound quality.
“This award demonstrates our success in
developing feature rich and innovative products at attractive price
points for our target markets,” said Joseph
Ram, President and Chief Executive Officer of InfoSonics. “As
a proprietary offering for InfoSonics, the verykool®
i250 has generated positive initial feedback from our carrier customers,
and should help to solidify our potential as a ‘rising
star’ in a very competitive marketplace.”
About InfoSonics Corporation
InfoSonics is one of the premier providers and distributors of wireless
handsets and accessories serving Latin America. 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 Latin America. For additional information,
please visit www.infosonics.com.
About PC World Latin America
PC World Latin America, a media group of IDG, is the leading source of
information services regarding information technology (IT) in Latin
America. PC World Latin America's online website can be located at www.pcworldenespanol.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
within the meaning of the Private Securities Litigation Reform Act of
1995, including, without limitation, 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 and uncertainties. These risks and
uncertainties, 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) seasonal buying
patterns; (18) dependency on Latin American sales; (19) uncertain
political and economic conditions internationally; (20) 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; (21) the resolution of any litigation against the company; (22)
the ability of the Company to successfully introduce and sell its
verykool® products and the related inventory
risk of such products 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, 2007 and Quarterly
Reports on Form 10-Q for the period ended March 31, 2008 and June 30,
2008; 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.
InfoSonics Corporation
Jeffrey A. Klausner, 858-373-1600
Chief
Financial Officer
ir@infosonics.com
or
MKR
Group, Inc.
Todd Kehrli or Mary Magnani, 323-468-2300 (IR)
ifon@mkr-group.com