InfoSonics
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Telecommunications Equipment |
| Founded | 1994[1] |
| Founder | Joseph Ram |
| Headquarters | , United States[2] |
Key people | Joseph Ram (president & CEO)[3] Vernon A. LoForti (VP & CFO)[4] |
| Products | Smartphones, feature phones, tablets and accessories |
| Revenue |  $48.1 million (2014)[5] |
| Parent | Cool Holdings, Inc. |
| Subsidiaries | verykool |
| Website | infosonics |
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]
History
[edit]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 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
[edit]- ^ 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.
- ^ a b White, Ronald D. (23 February 2014). "InfoSonics seeking name recognition in U.S." The L.A. Times. Retrieved 27 February 2014.
- ^ a b Goldstein, Phil (23 May 2013). "While Samsung & Co. are away, the smaller OEMs will play". Fierce Wireless. Retrieved 30 January 2014.
- ^ "InfoSonics names Overland exec as CFO". San Diego Daily Transcript. 26 July 2010. Retrieved 30 January 2014.
- ^ a b Ingram, Shawn (4 March 2015). "InfoSonics (IFON) Stock Is Up Today After Positive Quarter". The Street. Retrieved 12 March 2015.
- ^ "InfoSonics Launches R80 Rugged Phone In Latin America". TheStreet.com. 15 April 2011. Retrieved 4 February 2014.
- ^ Low, Cherlynn (2 August 2013). "InfoSonics Adds to its line of rugged unlocked devices". Laptop Mag. Retrieved 4 February 2014.
- ^ Kim, Eugene (20 September 2013). "Verykool RS90 Vortex". PC Mag. Retrieved 4 February 2014.
- ^ "InfoSonics announces IPO". RCR Wireless. 19 May 2004. Retrieved 30 January 2014.
- ^ Gallagher, Sean (20 July 2006). "InfoSonics moving to Nasdaq". San Diego Daily Transcript. Retrieved 30 January 2014.
- ^ "InfoSonics SEC Filing - Stock Purchase and Sales Agreement". Retrieved 30 January 2014.
- ^ "CEO Interview Joseph Ram". The Wall Street Transcript. 22 August 2005. Retrieved 4 February 2014.
- ^ a b Wittenstein, Jeran (6 March 2007). "InfoSonics 2006, 4Q net income falls; shares follow". San Diego Daily Transcript. Retrieved 30 January 2014.
- ^ a b Karsan, Barel (1 December 2010). "InfoSonics: Sounds Bad, Looks Good". Seeking Alpha. Retrieved 30 January 2014.
- ^ "InfoSonics launches new smartphone". San Diego Daily Transcript. 13 May 2013. Retrieved 30 January 2014.
- ^ Allen, Mike (18 December 2013). "InfoSonics Enters Distribution Agreement With Ingram Micro Mobility". San Diego Business Journal. Retrieved 30 January 2014.
- ^ 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.
- ^ a b "InfoSonics Reports Fourth Quarter 2013 Results". Yahoo Finance. 6 March 2014. Retrieved 10 May 2014.
- ^ "InfoSonics Corporation Revenue and Financial Data". Hoovers. Retrieved 10 May 2014.