Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound 
Asian Currencies Trade Sideways as Dollar Stabilizes, Yen Weakens Ahead of Japan Election 
NRW Holdings Shares Surge After Securing Major Rio Tinto Contract and New Project Wins 
Stephen Miran Resigns as White House Economic Adviser Amid Federal Reserve Tenure 
Qantas to Sell Jetstar Japan Stake as It Refocuses on Core Australian Operations 
Using the Economic Calendar to Reduce Surprise Driven Losses in Forex 
RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
Novo Nordisk Warns of Profit Decline as Wegovy Faces U.S. Price Pressure and Rising Competition 
CK Hutchison Unit Launches Arbitration Against Panama Over Port Concessions Ruling 
SpaceX Seeks FCC Approval for Massive Solar-Powered Satellite Network to Support AI Data Centers 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Tesla Launches New Model Y Variant in the US Starting at $41,990 
Dollar Steady as Fed Nomination and Japanese Election Shape Currency Markets 
Hyundai Motor Lets Russia Plant Buyback Option Expire Amid Ongoing Ukraine War 
China Services PMI Hits Three-Month High as New Orders and Hiring Improve 
Elon Musk’s SpaceX Acquires xAI in Historic Deal Uniting Space and Artificial Intelligence 
Peloton Interactive Inc. announced it would be selling refurbished bikes in the United States and Canada. For these items, customers can enjoy huge discounts of up to $500.
Peloton said on Monday, Dec. 26, that it is offering two types of refurbished bikes at discounted prices under the program named Peloton Certified Refurbished. The exercise equipment maker will be selling these for $1,145 and $1,995. Buyers will also get a 12-month warranty which is the same as offered with the new bikes.
As per Reuters, Peloton experienced a big surge in sales at the height of the COVID-19 pandemic. This was because many people were stuck at home, and since they could not go out, people started to set up their home gyms. As a result, exercise equipment companies such as Peloton saw their sales soar.
However, after the restrictions were lifted and people started to leave their homes to return to normal activities, sales of gym equipment immediately declined. The demand also slowed down, and Peloton’s market cap dropped to $3.02 billion, which showed a big gap from early 2021’s record of $50 billion.
The company is trying to boost its sales again by adding new offerings, such as the expansion of its rental program in the U.S. Peloton improved the terms by introducing the month-to-month option for its Peloton Bike and Bike+ models.
In any case, the prices for the certified Peloton refurbished models will be much lower than the current prices. This is the company’s new way of attracting new customers and encouraging more people to try the Peloton experience for less.
The refurbished Peloton Bikes are now up for sale online and in the brand’s showrooms. The firm said that full delivery and assembly service are already included in the purchase price. They also come with the same as the brand-new bikes, such as access to Peloton’s classes and more.
"We are excited to offer refurbished Peloton bikes at these new price points, opening the engaging Peloton experience to even more Members,” Peloton’s vice president of emerging business and strategic partnerships, Amanda Shulman, said in a press release. “All pre-owned bikes have been refurbished and checked to meet our rigorous quality standards, and our new program allows us to find these bikes a second home."
