After safety issues, Peloton's smaller treadmill is now on sale
Updated: 1:18 PM EDT Aug 24, 2021
as we became more aware of the incidents that are involved with this particular equipment. We have been in contact with the company urging for a recall, the product, We're pleased that we've reached a conclusion on that negotiation. And today Peloton joins the agency, giving consumers the heads up about this recall and about the remedy that's available to the consumer 2.5 weeks ago when we put out our warning to consumers about the tread. Plus, we were aware of 39 incidents since that time, The member has almost doubled to over 70. In those 70 are 29 reports of Children having injuries that range from 2nd and 3rd degree abrasions to broken bones, some multiple fractures, lacerations and brain injury. And most of all, and most seriously obviously, was the death of a child. The consumer can seek a full refund from peloton And that is available until six November 2022 next year after next november, then it will be a partial refund. Now, if the consumer doesn't want the refund now, for some reason, they also have the option of having peloton for no cost, come to your location and move your device to a room or a space where there are no Children or no pets that can have access to that area. I want to underscore that our technical experts are still evaluating this equipment. It appears that there are certain aspects to it. For example, the unique slatted tread, the fact that there's no guard in the back of the treadmill and the fact that the height off the ground is a little bit higher. These are all factors that could be contributing to the risk of adults or Children or pets or objects being pulled underneath the treadmill.
Peloton's lower-priced and smaller treadmill is finally going on sale.The release of the Peloton Tread was originally scheduled for May but was paused amid safety concerns for the company's higher-end treadmill that prompted a massive recall for both machines. Now, the $2,495 machine is being released on Aug. 30 in the United States, Canada and the United Kingdom.Peloton said in a press release that the Tread has the "latest in software and hardware safety features" including a four-digit passcode that owners need to enter before a workout that unlocks the belt. Also included is a safety key that helps the user stop a workout session if needed."Our goal is to be the go-to fitness solution and the largest and safest home fitness brand in the world," Peloton CEO John Foley said in a statement announcing the Tread's release.About 1,000 Tread machines were sold as part of a pre-launch promotion and the company is working with existing owners to have them fixed. Peloton said on its website owners can schedule in-home appointments to have the touchscreen fix so it remains secure.The repair was approved by Consumer Product Safety Commission and owners can use them once again following the fix. Peloton said the repair is already included on Treads going on sale next week.Peloton is still working on a fix for the Tread+, which was recalled in May following a child's death and 70 other injuries. Sales of the machine remain paused.Peloton is taking a substantial financial hit from the recall: about $165 million in lost revenue during the current quarter. The company releases its fourth-quarter earnings on Thursday.
Peloton's lower-priced and smaller treadmill is finally going on sale.
The release of the Peloton Tread was originally scheduled for May but was paused amid safety concerns for the company's higher-end treadmill that prompted a massive recall for both machines. Now, the $2,495 machine is being released on Aug. 30 in the United States, Canada and the United Kingdom.
Peloton said in a press release that the Tread has the "latest in software and hardware safety features" including a four-digit passcode that owners need to enter before a workout that unlocks the belt. Also included is a safety key that helps the user stop a workout session if needed.
"Our goal is to be the go-to fitness solution and the largest and safest home fitness brand in the world," Peloton CEO John Foley said in a statement announcing the Tread's release.
About 1,000 Tread machines were sold as part of a pre-launch promotion and the company is working with existing owners to have them fixed. Peloton said on its website owners can schedule in-home appointments to have the touchscreen fix so it remains secure.
The repair was approved by Consumer Product Safety Commission and owners can use them once again following the fix. Peloton said the repair is already included on Treads going on sale next week.
Peloton is still working on a fix for the Tread+, which was recalled in May following a child's death and 70 other injuries. Sales of the machine remain paused.
Peloton is taking a substantial financial hit from the recall: about $165 million in lost revenue during the current quarter. The company releases its fourth-quarter earnings on Thursday.
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