Peloton Interactive, Inc. (NASDAQ: PTON) has introduced Peloton Guide, a strength training product. These products would have a starting price of $295, which is around 40% less than what was originally planned. Peloton announced Tuesday that Guide will be available for purchase in the United States, Canada, the United Kingdom, and Australia beginning Tuesday, in the company's first big product launch since CEO Barry McCarthy took over.
The Guide, which is free to all-access subscribers, includes a TV-connected camera that shows workouts and helps users record their activities, and it differs from Peloton's other cardio-focused items like bikes and treads. Last year, Peloton, a pandemic winner, released the 'Peloton Guide,' with a starting price of $495.
Furthermore, the business replaced co-founder John Foley with former IT executive McCarthy in February after investor pressure over declining sales. Under McCarthy's leadership, the company plans to test different pricing methods in a few U.S. markets to attract more customers and reclaim profitability.
In addition, the Guide, Peloton's first strength-training device, has an artificial intelligence-enabled camera that can evaluate and provide feedback on exercises done in front of a television. The voice-activated device can detect which muscles users are working out and coach them through virtual strength training programs.