Perth-based ISP, iiNet (ASX:IIN) has opened an in-house research and development (R&D) division.
Dubbed iiNet Labs, it was launched at the company’s annual general meeting.
The division will focus on bringing consumer products to market.
The move was spurred by the success of the ISP’s BoB, an Internet and phone device.
“Operating in an extremely fast moving and competitive industry means we need to continuously evolve our offer,” iiNet CEO, Michael Malone, said in a statement.
“It is only natural we develop our in-house R&D capability to give us more control of our development and let us quickly respond to changing customer demands and trends.”
Having iiNet Labs means the ISP can quickly address gaps in the market identified by its consumer research, according to iiNet.
It will also improve process efficiencies and cut costs by removing third party suppliers.