NOTE 11—SEGMENT AND GEOGRAPHIC INFORMATION

The Company reports segment data based on the management approach, which designates the internal reporting that is used by management for making operating and investment decisions and evaluating performance as the source of the Company’s reportable segments. The Company uses one measurement of profitability and does not disaggregate its business for internal reporting. The Company has determined that it has operated in one segment and has provided wireless handsets and accessories to carriers, distributors and OEM customers in Latin America, Asia Pacific, Europe, Africa and the United States for the years covered in the table below. The table summarizes the Company’s net sales by geographic area for the years ended December 31, 2014, 2013 and 2012 (in thousands):

 

		2014				2013				2012
Central America		$	15,887			$	17,296			$	11,767
South America			12,767				9,048				8,633
Mexico			8,063				2,908				1,960
U.S.-based distributors selling to Latin America			7,240				6,422				6,295
United States			2,582				1,051				410
EMEA			1,530				961				4,799
Asia Pacific			75				209				430
Total		$	48,144			$	37,895			$	34,294

During the year ended December 31, 2014, sales to customers in Peru, Mexico and Puerto Rico represented 25%, 17% and 12% of the Company’s consolidated net revenue, respectively. In 2013, sales to customers in Peru, Guatemala and Puerto Rico represented 20%, 15% and 13% of the Company’s consolidated net revenue, respectively. In addition, sales to a U.S.-based distributor who sells into the open market in Central America represented 14% in 2013. In 2012, sales to a U.S.-based distributor who sells into the open market in Central America and sales to a carrier customer in Peru represented 16% and 11%, respectively. Sales in no other individual country amounted to 10% or more of the Company’s consolidated net revenue in any of the three years.

Fixed assets, which represent approximately 1% of the Company’s net assets, are principally located in the Company’s offices in the United States or in China at the Company’s quality and production control office or contract manufacturing facilities.