Outsourcing product development refers to the practice of hiring an external company or team to handle the design, development, and manufacturing of a product, rather than having an in-house team handle all aspects of the process. This can include outsourcing individual components of the product development process, such as design or manufacturing, or outsourcing the entire process from start to finish. Outsourcing product development is often done to reduce costs, gain access to specialized expertise or resources, accelerate time-to-market, and increase flexibility. However, it also carries some risks, such as communication and quality control issues, and requires careful planning and management to ensure a successful outcome.