We (and all the other manufacturers) must be doing it wrong because we most certainly have to tool up. The vendor doesn't eat the tooling. And lasers can't bend metal and mold plastic parts.You think he does that? He and his team do the design work and post manufacturing effort. It’s still too expensive to do everything in-house. The actual manufacturing is contracted out to China and elsewhere. He doesn’t tool up. All the parts are made elsewhere, assembled elsewhere. FAS does the quality control and shipping. Just like everyone else. His vendors roll manufacturing cost for any new tooling - and by the way there isn’t much: laser or water table cutting, laser etching faceplates, CCA manufacturing printing and populating - into their bid to get his business.
The costs to bring a product to market now are astronomical. People expect so much that it's becoming cost-prohibitive to introduce high-end products.