Peloton planning new higher-end spin bike and cheaper version of its treadmill: report

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Peloton Interactive Inc. reportedly plans to introduce a cheaper treadmill and a higher-end exercise bike as it looks to grow its library of luxury fitness products due to strong demand for at-home exercise offerings during the pandemic. The company is prepared to launch a new Tread treadmill that will be priced under $3,000, according to a Bloomberg News story, compared with its original Tread offering that costs more than $4,000. The company intends to still sell the existing Tread as a more premium product featuring a slat design, according to the report, and it will be renamed the Tread+. Peloton’s new treadmill will have a more inexpensive belt setup that’s more in line with what other treadmills have, Bloomberg News said. The company is also reportedly looking to launch a higher-end stationary bike, called the Bike+, which will cost more than the company’s existing $2,245 spin bike offering and prompt Peloton to reduce the price of that older model. Both the new treadmill and bike would feature more adjustable tablet screens so that users could more easily complete video workouts while not directly on the equipment, according to Bloomberg, which said the product announcements could come as soon as next week. Peloton didn’t immediately respond to a MarketWatch request for comment. Its shares are down 0.2% in morning trading Friday. They’ve gained 71% over the past three months as the S&P 500 has risen 11%.
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