InfoSonics Introduces the verykool i305 in Central America

Wed Nov 4, 2009 9:00am EST
 
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SAN DIEGO--(Business Wire)--
InfoSonics Corporation (NASDAQ: IFON), one of the premier providers and
distributors of wireless handsets and accessories serving Latin America, today
announced that its verykool® i305 has been approved by carriers in Central
America and that it anticipates the first shipments of its newest phone in the
fourth quarter 2009. 

"We are enthusiastic about the potential for this product," stated Joseph Ram,
president and CEO of InfoSonics. "With an FM radio, MP3 player, camera and
external memory, we feel the i305 is well positioned for both entry level users
and those seeking an upgrade or replacement, as it offers good value in terms of
features compared to the price point." 

The i305 is a compact entry level, clamshell camera phone with many of the
features users are seeking. It is loaded with desirable functions, such as an FM
radio, MP3 music player, camera and external memory slot for micro SD to allow
users to transport personal files and music and videos. 

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 verykool 

InfoSonics` verykool proprietary line of mobile phones covers a full spectrum of
product offerings, including entry level handsets and full featured phones, both
mid-tier and high end. The verykool phones are compact, stylish handsets,
available in multiple fashion color options and filled with the most popular
features demanded by consumers, such as, audio and multimedia players; cameras;
PC Sync; expansion memory slots; and GSM `world phone` standards. InfoSonics is
initially focused on selling its proprietary verykool line of products to
carrier customers in Latin America, with the potential for geographic expansion
opportunities in the future. To view InfoSonics` verykool line-up, visit
www.verykool.net. 

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, and include, without limitation:
(1) intense competition internationally, including competition from alternative
business models, such as manufacturer-to-carrier sales, which may lead to
reduced prices, lower sales, lower gross margins, extended payment terms with
customers, increased capital investment and interest costs, bad debt risks and
product supply shortages; (2) dependency on Latin American sales; (3) extended
general economic downturn; (4) inability to secure adequate supply of
competitive products on a timely basis and on commercially reasonable terms; (5)
foreign exchange rate fluctuations, devaluation of a foreign currency, adverse
governmental controls or actions, political or economic instability, or
disruption of a foreign market, including, without limitation, the imposition,
creation, increase or modification of tariffs, taxes, duties, levies and other
charges and other related risks of our international operations; (6) 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; (7) 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; (8) significant changes in
supplier terms and relationships; (9) termination of a supply or services
agreement with a major supplier or product supply shortages; (10) continued
consolidation in the wireless handset carrier market; (11) loss of business from
one or more significant customers; (12) customer and geographical accounts
receivable concentration risk and other related risks; (13) rapid product
improvement and technological change resulting in inventory obsolescence; (14)
terrorist or military actions; (15) the loss of a key executive officer or other
key employees; (16) changes in consumer demand for multimedia wireless handset
products and features; (17) our failure to adequately adapt to industry changes
and to manage potential growth and/or contractions; (18) seasonal buying
patterns; (19) uncertain political and economic conditions internationally; (20)
the resolution of any litigation for or against the Company; (21) the ability of
the Company to successfully introduce and sell its verykool products and the
related inventory risk of such products; and (22) 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 and condition 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, 2008 and Quarterly Reports on Form 10-Q for
the periods ended March 31, 2009 and June 30, 2009; 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.

Company Contact:
InfoSonics Corporation
Jeffrey A. Klausner
Chief Financial Officer
858-373-1600
ir@infosonics.com
or
IR Contact:
MKR Group, Inc.
Todd Kehrli
323-468-2300
ifon@mkr-group.com

Copyright Business Wire 2009

 

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