WowWee has established a highly successful and ingenious product development process. This process is centered on the continuity of: (i) identifying and integrating emerging technologies into affordable, creative consumer affordable products; (ii) collaborating with precision manufacturers to develop highly sophisticated product prototypes; and (iii) leveraging the Company’s strong relationships with global retail partners and top-tier entertainment brands to assist WowWee in designing products that will have wide consumer appeal and demand.
WowWee focuses its product development process on designing consumer products that can be sold at a variety of attractive price points and that can provide consumers with attributes that exceed users’ expectations.
WowWee has amassed a team of engineers and designers that have a proven ability to develop world-class products. This team internally creates the initial “proof-of-physics” prototype to determine if a product concept can be transformed into a reality. Once the product concept has passed the “proof-of-physics” analysis, the engineering team begins liaising daily with the Company’s manufacturing partners to ensure that the product payoff envisioned by WowWee is ultimately the same product payoff that is delivered to the end-user.
WowWee continuously assesses its in-house technologies and speaks with third-party technology innovators, both solicited and unsolicited, concerning potential product applications. WowWee believes there is currently an abundance of unique third-party technologies that have not been successfully commercialized, which could have substantial value if integrated within WowWee’s products. This highly fluid development process constantly evolves as product engineers and designers determine how to transform product ideas using existing technological know-how or leveraging third-party technologies to create novel consumer-appealing toys and electronic products that can be economically manufactured.