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InfoSonics Corporation (AMEX:IFO), one of the fastest
growing distributors of wireless handsets in the United States and
Latin America, announced today it is joining forces with Kingston
Technology Company, Inc. to assist in the distribution of Kingston(R)
mobile memory solutions. InfoSonics is now offering Kingston Flash
memory to its existing carrier customers as well as other retail
outlets servicing the mobile community.
"We see a good mutual opportunity to work with Kingston to provide
mobile memory solutions for cellular phones," said Joseph Ram,
President and Chief Executive Officer of InfoSonics. "The partnering
of our handsets with Kingston mobile memory will further enhance our
customer and vendor relationships in the United States and beyond."
"Kingston is working with InfoSonics to provide expansion memory
for a wide variety of mobile phones and together, we are deepening our
reach into the global marketplace," said Keyla Velazquez, mobile media
product manager, Kingston. "InfoSonics has established strong channels
throughout the United States and Latin America and we will
cooperatively cross-promote their handsets and our Flash memory,"
added Velazquez.
Given the myriad of expansion memory formats selected by wireless
handset manufacturers, Kingston designs and builds Flash memory
ranging from microSD, miniSD, and MMCmobile cards, in addition to
standard SD and MMCplus cards for use in multifunction mobile phones.
As new advanced wireless devices are introduced, Kingston will produce
larger capacity mobile memory solutions to support their storage
requirements, and InfoSonics will assist in getting the products to
market.
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 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.
Cautionary Statement for the Purpose of the Safe Harbor Provisions
of the Private Securities Litigation Reform Act of 1995
The matters in this report 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; and (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 (22) the resolution
of any litigation against the company. 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, 2005 and its Quarterly Report on Form
10-Q, as amended, for the quarter ended March 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.
About Kingston Technology Company, Inc.
Kingston Technology Company, Inc. is the world's largest
independent manufacturer of memory products. Kingston designs,
manufactures and distributes memory products for desktops, laptops,
servers, printers, and Flash memory products for PDAs, mobile phones,
digital cameras, and MP3 players. Kingston has manufacturing
facilities in California, USA; Malaysia; Taiwan; China; and sales
offices in the United Sates, United Kingdom, Europe, Russia,
Australia, Taiwan, China, and Latin America. For more information,
please call (800) 337-8410 or visit www.kingston.com.
Kingston and the Kingston logo are registered trademarks of
Kingston Technology Corporation. All rights reserved. All other marks
may be the property of their respective titleholders.