Apple Inc. (NASDAQ: AAPL) announced a new wireless base-station on Wednesday that increases performance over previous models with higher data rates and longer usable ranges.

The AirPort Extreme wireless base station will allow for a faster wireless home network capable of sending larger files over longer distances It will employ the 802.11n draft standard, promising up to five times the performance of previous models which used 802.11g.

The Cupertino Calif.-based company said its new product will features three antennas and uses a technology called multiple-input multiple-output (MIMO) to transmit multiple data streams simultaneously.

Standard security features, such as 128-bit encryption will be included. The device also features parental controls as well, allowing a parent to restrict access to certain destinations on the web.

Apple is reinventing itself as a consumer electronics company. On Tuesday, the Cupertino-Calif.-based firm dropped the '˜Computer from its name as it introduced a new cell phone and set-top box at the Macworld Expo in San Francisco.

Shares of apple were up $4.71, or 5.16 percent, to $97.34 in mid-day trading on the Nasdaq exchange.

Electronics ITunes Apple Apple inc.