InfoSonics Corporation

InfoSonics Corporation is a subsidiary of Cool Holdings, Inc. (NASDAQ: AWSM), a publicly traded telecommunications equipment provider based in San Diego, California.[2] It develops, manufactures, and distributes wireless handsets and accessories through its proprietary brand verykool and other private label brands.[3] InfoSonics sells its products through carriers, distributors and OEMs in Latin America, Europe, Africa, Asia Pacific and the United States.[6] It is best known for its line of inexpensive unlocked phones as well as its rugged phones in its verykool line of products.[7][8]

InfoSonics Corporation
NASDAQ: AWSM
IndustryTelecommunications Equipment
Founded1994[1]
FounderJoseph Ram
Headquarters
San Diego, California
,
United States[2]
Key people
Joseph Ram, President & CEO[3]
Vernon A. LoForti, VP & CFO[4]
ProductsSmartphones, feature phones, tablets and accessories
Revenue $48.1 million (2014)[5]
ParentCool Holdings, Inc.
Subsidiariesverykool
Websitewww.infosonics.com

History

InfoSonics was founded in 1994 by Joseph Ram, the company's president and CEO. It became a public company in June 2004, and was initially listed on the American Stock Exchange under the symbol “IFO.”[9] In August 2006, the company transferred to the NASDAQ under the symbol “IFON.”[10] When the company first went public, it was primarily a distributor of products supplied by Samsung, VK Corporation, LG, Novatel and others. In 2005 it purchased Primasel S.A., a distributor of Samsung products primarily in Argentina.[11][12]

The verykool s400, T742, R800, and s470 from InfoSonics Corporation.

The company followed up with a secondary stock offering in 2006, offering 2.2 million shares.[13] The same year the company reached $240 million in sales.[13] 2006 was also the year it began to develop its own wireless handsets under the verykool brand.[14] InfoSonics ceased its distributing business in March 2012, primarily due to protective import tariffs that had been enacted on certain electronic devices since 2009.[14] After terminating its distributing business, it became solely a manufacturer and distributor of its own products under the verykool brand.[15]

InfoSonics entered into an agreement with Ingram Micro in December 2012 for the distribution of its verykool brand to customers in the United States.[16] It also launched an online store in the U.S. market for consumer purchase of the verykool product line.[17]

InfoSonics Corporation reported a second consecutive quarter of profitability after 2013 4th quarter results were announced.[18] The company had a 48% gross profit in the 4th quarter compared to 2012 with operating expenses declining 26% for the same period.[18] InfoSonics also reported gross revenue of $37.9 million, an increase of $3.6 million from the year prior.[19] It continued to increase sales by year-end 2014, bringing in $48.1 million, a 27% increase from the prior year.[5]

References
  1. Seitz, Patrick (16 October 2006). "InfoSOnics' Comeback Tied To Latin America; Emerging market is hot, but challenges abound for cell phone distributor". Investors.com. Retrieved 4 February 2014.
  2. White, Ronald D. (23 February 2014). "InfoSonics seeking name recognition in U.S." The L.A. Times. Retrieved 27 February 2014.
  3. Goldstein, Phil (23 May 2013). "While Samsung & Co. are away, the smaller OEMs will play". Fierce Wireless. Retrieved 30 January 2014.
  4. "InfoSonics names Overland exec as CFO". San Diego Daily Transcript. 26 July 2010. Retrieved 30 January 2014.
  5. Ingram, Shawn (4 March 2015). "InfoSonics (IFON) Stock Is Up Today After Positive Quarter". The Street. Retrieved 12 March 2015.
  6. "InfoSonics Launches R80 Rugged Phone In Latin America". TheStreet.com. 15 April 2011. Retrieved 4 February 2014.
  7. Low, Cherlynn (2 August 2013). "InfoSonics Adds to its line of rugged unlocked devices". Laptop Mag. Retrieved 4 February 2014.
  8. Kim, Eugene (20 September 2013). "Verykool RS90 Vortex". PC Mag. Retrieved 4 February 2014.
  9. "InfoSonics announces IPO". RCR Wireless. 19 May 2004. Retrieved 30 January 2014.
  10. Gallagher, Sean (20 July 2006). "InfoSonics moving to Nasdaq". San Diego Daily Transcript. Retrieved 30 January 2014.
  11. "InfoSonics SEC Filing - Stock Purchase and Sales Agreement". Retrieved 30 January 2014.
  12. "CEO Interview Joseph Ram". The Wall Street Transcript. 22 August 2005. Retrieved 4 February 2014.
  13. Wittenstein, Jeran (6 March 2007). "InfoSonics 2006, 4Q net income falls; shares follow". San Diego Daily Transcript. Retrieved 30 January 2014.
  14. Karsan, Barel (1 December 2010). "InfoSonics: Sounds Bad, Looks Good". Seeking Alpha. Retrieved 30 January 2014.
  15. "InfoSonics launches new smartphone". San Diego Daily Transcript. 13 May 2013. Retrieved 30 January 2014.
  16. Allen, Mike (18 December 2013). "InfoSonics Enters Distribution Agreement With Ingram Micro Mobility". San Diego Business Journal. Retrieved 30 January 2014.
  17. McCabe, Adrianne (23 January 2014). "Hot Tech Stocks: SemiLEDs Corporation, InfoSonics, China Finance Online, Super Micro Computer, Cree Inc". I Street Wire. Archived from the original on 29 January 2014. Retrieved 30 January 2014.
  18. "InfoSonics Reports Fourth Quarter 2013 Results". Yahoo Finance. 6 March 2014. Retrieved 10 May 2014.
  19. "InfoSonics Corporation Revenue and Financial Data". Hoovers. Retrieved 10 May 2014.
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