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INFOSONICS CORPORATION EXTENDS EXCLUSIVE DISTRIBUTION AGREEMENT WITH VK MOBILE FOR THE AMERICAS
SAN DIEGO, CA, April 5, 2005 - InfoSonics Corporation (AMEX: IFO) , one of the largest distributors of wireless handsets in the United States and Latin America, today announced that it has extended it's exclusive distribution agreement with VK Mobile, through April 2006. The original agreement was set to expire March 31, 2005. InfoSonics distributes VK Mobile handsets, both GSM and CDMA offerings, in North, Central and South America and the Caribbean region.
"This extension is a testament to our successful introduction of the VK line to carriers in both the United Sates and Latin America." stated Joseph Ram , President and CEO of InfoSonics. "We believe both companies have a great future ahead of them, and this partnership will be beneficial to the regions in which InfoSonics operates. Expanding our product line to deliver innovative, high-value products to our retail and carrier customers continues to be a major component of our strategy, and we anticipate the VK products will remain an important feature to our product offering in the future."
Commenting on the new distribution agreement, Danny (Sang No) Lee President of VK Corporation, "We are very happy to have signed a new agreement with Infosonics, which builds on the success of our partnership over the past several months. VK Corporation is delighted to have the support of a company with such a clear understanding of the mobile products marketplace. We are looking forward to working on some exciting projects in 2005 and building on the association going forward."
About InfoSonics Corporation
InfoSonics is one of the largest distributors of wireless handsets and accessories in the United States and Latin America . For the wireless telecommunications industry, InfoSonics provides flexible and cost effective solutions, including purchasing, marketing, selling, warehousing, order assembly, programming, packing, shipping, and delivery. InfoSonics supports the manufacturers in moving their products to agents, resellers, distributors, independent dealers, retailers and wireless network operators in the U.S. and Latin America . For additional information, please visit http://www.infosonics.com .
About VK Corporation
VK Corporation (KOSDAQ: 048760.KQ) is one of the four largest Korean handset manufacturers. VK currently sells products in Asia and Europe for carriers such as Vodaphone (U.K.), SK Telecom ( Korea ) and China Mobile ( China ). VK has manufacturing facilities in both Korea and China producing GSM and CDMA handsets. For additional information please visit http://www.vkmobile.com
The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Some of these uncertainties and risks include, but are not limited to, the demand for our products, our ability to obtain our products from our suppliers, our ability to maintain commercially feasible margins given significant competition, and other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. InfoSonics undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Readers should carefully review the risks described in other documents that InfoSonics files from time to time with the Securities and Exchange Commission ("SEC"), including the final prospectus filed June 18, 2004 , in connection with the Company's initial public offering.
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Company Contact:
Jeffrey A. Klausner, Chief Financial Officer
858-373-160
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