1. Exploration: Dreams will turn into concepts.
  2. Early Validation: Start to prove them.
  3. Concept: What’s the experience and what’s possible? How would we sell? What should it look like, ideally? Product experience. The why’s are important. Highly resolved “WHYS” and differentiation strategy (from competitors, from other products in the family); product roadmap.
  4. Planning phase; we’ve got to ship it. What are the trade-offs of features/design
  5. Development: Various stages and functional teams solve problems. This process includes design sign-off; engineering (hardware and software) sign-offs, etc.
  6. What did we achieve, and how can we continue to innovate?
Hardware Design Phase of a Framework by Jawbone in 2015 for creating rich, continuous & signature customer and user experiences in product design

Exploration Phase of a Framework by Jawbone in 2015 for creating rich, continuous & signature customer and user experiences in product design
Early Validation Phase of a Framework by Jawbone in 2015 for creating rich, continuous & signature customer and user experiences in product design
Concept Phase of a Framework by Jawbone in 2015 for creating rich, continuous & signature customer and user experiences in product design

Source: How to Design Hardware Products (Hosain Rahman), Stanford