InfoSonics
| Company type | Public |
|---|---|
| Industry | Telecommunications equipment |
| Founded | 1994 |
| Founder | Joseph Ram |
| Headquarters | San Diego , United States |
Area served | Latin America, Europe, Africa, Asia Pacific, United States |
Key people | Joseph Ram (Founder and CEO), Vernon A. LoForti (CFO) |
| Products | Wireless handsets, smartphones, feature phones, tablets, accessories |
| Parent | Cool Holdings, Inc. (rebranded Simply, Inc. in 2020) |
InfoSonics Corporation was a U.S.-based telecommunications equipment manufacturer specializing in the design, production, and distribution of wireless handsets and related accessories. Its products were marketed under its own brand, verykool, as well as various private labels. The company’s sales channels included carriers, distributors, and original equipment manufacturers (OEMs) across regions such as Latin America, Europe, Africa, Asia Pacific, and the United States.
The verykool brand was recognized for offering economically priced unlocked mobile phones and durable devices, catering primarily to developing markets with affordable wireless technology. InfoSonics’ range comprised smartphones, feature phones, tablets, and complementary accessories.
Operating as a subsidiary of Cool Holdings, Inc., headquartered in Miami, the parent company rebranded to Simply, Inc. in 2020. Following a strategic pivot, Simply secured status as an Apple Premiere Partner within the U.S. before ultimately undergoing liquidation. Among the principal leadership were founder and CEO Joseph Ram alongside CFO Vernon A. LoForti. InfoSonics’ corporate headquarters were located in San Diego, California.
History
Founded in 1994 by Joseph Ram, who served as president and CEO, InfoSonics went public in June 2004 with an initial listing on the American Stock Exchange under the ticker “IFO.” It transitioned to the NASDAQ exchange in August 2006, trading as “IFON.” Initially focusing on distributing products from companies such as Samsung, VK Corporation, LG, and Novatel, InfoSonics expanded its footprint through acquisitions including that of Argentina-based Primasel S.A. in 2005.
In 2006, the company issued a secondary stock offering amounting to 2.2 million shares and achieved $240 million in revenue. This year also marked a strategic realignment toward creating proprietary wireless handsets under the verykool label. By March 2012, InfoSonics discontinued its distribution operations due to protective import tariffs introduced since 2009, shifting focus exclusively to manufacturing and marketing verykool-branded products.
December 2012 saw InfoSonics form a distribution partnership with Ingram Micro to expand verykool’s presence throughout the U.S., accompanied by launching an e-commerce platform aimed at direct consumer engagement.
From a financial perspective, InfoSonics reported multiple consecutive quarters of profitability by late 2013. The fourth quarter displayed a gross profit margin of 48% alongside a 26% decrease in operating expenses relative to 2012 figures. Quarterly revenue rose to $37.9 million—an increase of $3.6 million compared to the prior year—and continued growing to reach $48.1 million by the conclusion of 2014, representing a 27% year-over-year growth rate.