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Company to Introduce Line of Proprietary verykool™ Handsets to Major GSM Carriers
SAN DIEGO, CA, January 15, 2008 - InfoSonics Corporation (NASDAQ: IFON), one of the premier providers and distributors of wireless handsets and accessories serving Latin America and the United States, today announced it will be exhibiting at the Mobile World Congress trade show (3GSM) in Barcelona, Spain February 11 to 14, 2008. At the show, InfoSonics will display its current verykool product line up and will reveal its product roadmap for 2008.
The Mobile World Congress features the very latest in technology, services, and developments, bringing to life the promise of mobile broadband for all and defining the industry's path to continued growth. The Congress brings together the eminent leaders and personalities from mobile operators and equipment vendors, as well as those from the Internet and the world of entertainment. InfoSonics will be in Hall 2 Level 1 booth D86.
“This show provides an opportunity to introduce our line of proprietary verykool handset products to many of the top GSM carriers around the world,” said Joseph Ram, President and CEO of InfoSonics Corporation. “At this event, we will have the opportunity to discuss our product line-up with many key decision makers. In addition, we expect to receive the necessary feedback required to meet the future demands of operators and users alike. We are looking forward to presenting our product line up at this trade show.”
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 Latin America and the United States. For additional information, please visit www.infosonics.com.
About The GSM Association and Mobile World Congress
The GSMA’s Mobile World Congress is one of the world's leading mobile communications conference and exhibition events, where top executives from mobile operators, equipment vendors, IT companies and entertainment providers meet to do business. The GSMA (The GSM Association) is the global trade association for the mobile industry, representing more than 700 GSM mobile phone operators across 218 countries and territories of the world in addition to more than 200 manufacturers and suppliers that support the Association's initiatives as key partners. The primary goals of the GSMA are to ensure mobile phones and wireless services work globally and are easily accessible, enhancing their value to individual customers and national economies, while creating new business opportunities for operators and their suppliers. The Association's members serve more than 2.5 billion customers - 85% of the world's mobile phone users.
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; 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.
Contacts:
Jeffrey A. Klausner
Chief Financial Officer
ir@InfoSonics.com
858-373-1600
Bonnie Mc Bride or Todd Kehrli
MKR Group, Inc.
ifon@mkr-group.com
323-468-2300
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