InfoSonics

InfoSonics Corporation was an American company that developed, manufactured, and distributed wireless handsets and accessories through its proprietary brand verykool and other private label brands.^[3] InfoSonics sold its products through carriers, distributors, and OEMs in Latin America, Europe, Africa, Asia Pacific and the United States.^[5]

InfoSonics Corporation

Company type	Subsidiary
Industry	Telecommunications Equipment
Founded	1994 (1994)[1]
Founder	Joseph Ram
Defunct	2018 (2018)
Fate	Parent company financial problems
Headquarters	San Diego, California , United States[2]
Area served	United States
Key people	Joseph Ram (president & CEO)[3] Vernon A. LoForti (VP & CFO)[4]
Products	Smartphones, feature phones, tablets and accessories
Parent	Cool Holdings, Inc.
Subsidiaries	verykool
Website	infosonics.com [dead link]

It was best known for its line of inexpensive unlocked phones as well as its rugged phones in its verykool line of products.^[6][7]

It was subsidiary of Cool Holdings, Inc. a Miami based company which changed its name to Simply, Inc in 2020. The company completely transformed and became a Apple Premiere Partner in the United States. It later went into liquidation.^[8]

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.