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At the moment, Peloton has not made an official announcement regarding the launch. However, one of the sources added that the company may announce the launch before the 10th of September.
Peloton Interactive Inc (NASDAQ: PTON) plans to launch a new high-end bike and a cheaper treadmill. The new treadmill according to the company will cost about $1,300 lower than the current model.
Founded in 2012, the American exercise equipment and media company has different bike packages and accessories. Mainly, the company produces a stationary bicycle and treadmill that gives users access to online fitness classes. Participants are charged on a monthly basis for the fitness lessons.
Peloton to Release New Bike and More
In addition to its current products, Peloton currently has plans to launch a new high-end bike called “Bike+.” According to a Bloomberg report, some reliable sources revealed that the new bike may cost more than the current $2,245 version when launched. After then, the company plans to reduce the price of the existing one to less than $1,900.
Also, the unnamed sources added that Peloton aims for the new products to meet up with high demands. Since the beginning of the global lockdown, gyms have been forbidden from functioning to curb the spread of the virus. As a result, many have resorted to working out in their homes. Hence, Peloton has high demand in the U.S., and hopes the price reduction would meet said demand.
Furthermore, Peloton also plans to launch a new treadmill called “Tread” while the existing one will be renamed the “Tread+.” Speaking on Tread, the sources said that the machine will cost less than $3,000, cheaper than the current model which costs $4,295. The people also commented on the design and size. The new treadmill will come in a smaller size with a cheaper belt design like other non-Peloton treadmills.
More Peloton Plans
Peloton also has plans to add new features to the two new products. One of the features of the new products is a more adjustable tablet screen. With the new adjustable screen, Peloton hopes that users will be able to do other exercises near their machines and not just on it.
In addition to the information provided by the sources, Peloton also plans to hold virtual bootcamp training classes for its bikes. Currently available on the Tread and the Peloton mobile app, users will gain access to strength training video workouts.
At the moment, Peloton has not made an official announcement regarding the launch. However, one of the sources added that the company may announce the launch before the 10th of September. This date coincides with the forthcoming release of Peloton’s quarterly results.
As many companies recorded losses due to the global health crisis, Peloton surged significantly. Since the beginning of the year, PTON has jumped 168.49% and over 66% in the last three months. Also, Peloton’s stock has increased 11.64% in the past month and 0.38% in the last five days.
However, Peloton stock is currently trading at a 6.65% loss to $76.80 over its previous close of $82.28.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
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