The Costs to Develop, Scale, and Manufacture a New Electronic Hardware Product
Article Technical Rating: 5 out of 10
Most entrepreneurs drastically underestimate all of the costs required to develop, scale and manufacture a new electronic hardware product. This is one of the main reasons so many hardware startups ultimately fail.
So in this article I’m going to cover each and every cost to take your product from concept to market.
The total cost to develop, scale and manufacture a new electronic product varies widely. For extremely complex products the total costs may reach millions of dollars. The original iPhone is said to have cost Apple about $150 million to develop! Thankfully, most products aren’t nearly this complex or expensive to develop.