Peloton introduces a treadmill to their product line.
Emily Gaffney | CNBC
Peloton said Thursday it will delay the launch of its Tread machine in the United States, until new safety features are added.
The new, less expensive treadmill was set to go on sale on May 27.
Chief Executive John Foley said during an earnings conference call that the company will be working with the U.S. Consumer Product Safety Commission to get its treadmills back on the market. CPSC must approve new enhancements that the company is suggesting to make to its treadmills safer before the equipment can be sold again, Foley said.
“This process typically takes six to eight weeks. It could take longer. So we can’t offer an on-sale or revised launch date at this time,” Foley said.
On Wednesday, Peloton voluntarily recalled all of its treadmills over safety concerns. It apologized for not acting more quickly to resolve the issue after reports of one death and dozens of injuries.
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