InfoSonics Corporation and Kingston Technology Join Forces to Offer Mobile Memory Solutions for SmartPhones, PDAs
12 Julho 2006 - 9:30AM
Business Wire
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.
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