Bloomberg: Peloton could announce more expensive bike, cheaper Tread as soon as next week

A new report from Bloomberg today offers additional details on Peloton’s upcoming hardware plans. According to the report, the company could announce its cheaper treadmill and higher-end bike as soon as next week. The existing Peloton bike could get a price drop in conjunction with these announcements.

The new treadmill, which will apparently use the same Tread name as the existing model, will reportedly cost less than $3,000. That’s a significant price reduction compared to the $4,295 price point of the existing Peloton Tread, which will be renamed the “Tread+” as well.

The new higher-end bike will reportedly be branded as the “Bike+” and cost more than the current $2,245 model. The existing model, however, will get a price drop to “less than $1,900.”

Today’s report also corroborates rumors that Peloton is planning new bootcamp training classes for the bike:

One of the new features of the cheaper Tread and higher-end bike will be a more adjustable tablet screen. This will help users do different workouts near the machine, not just on it, expanding the variety of classes. Peloton is also preparing bootcamp training classes for its bikes, which are strength training video workouts currently available on the Tread and the Peloton mobile app, according to the people familiar with the matter.

In terms of a release date, the report suggests that Peloton could make these hardware announcements as soon as next week. The cheaper Tread is likely to go on sale before the Bike+, the report adds. Peloton executives have previously emphasized the importance of a cheaper Tread amid the COVID-19 pandemic that has closed many gyms.

Peloton Bike+ with Apple Watch integration

Much of this Bloomberg report corroborates a recent investor note from analyst Ming-Chi Kuo. A recent report from the ClipOut also indicates that the upcoming premium bike would feature a 23.5-inch monitor coupled with a swivel design.

The ClipOut also reported that one of the distinguishing features of the new higher-end bike will be deeper Apple Watch integration. The report explained that Peloton riders with an Apple Watch will simply be able to “tap the display to pair and begin displaying your heart rate.”

Apple operates a GymKit platform allows for one-tap connectivity between Apple Watch and gym equipment. GymKit, however, has struggled to gain widespread adoption so far.

Last year, Orangetheory Fitness announced Apple Watch integration for sharing heart rate between the Apple Watch and fitness equipment, but this isn’t done through the GymKit platform. Instead, Orangetheory offers a OTbeat Link accessory that works in conjunction with the Apple Watch.

Our sister site 9to5Mac has found evidence in iOS 14 of something called “GymKit Express,” alongside assets for Peloton integration. Peloton’s integration with Apple Watch could tap into this new “GymKit Express” system and work similarly to Orangetheory’s integration with the wearable.

You can read the full report over at Bloomberg and read more about the recent below hardware rumors and leaks below.

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