Peloton Interactive Inc will recall 2.2 million exercise bikes due to the risk of injuries from a seat-related issue, the company said on Thursday, sending its shares down 7%.
A Peloton sign is pictured outside a store in the Manhattan borough of New York City, U.S., January 25, 2022. REUTERS/Carlo Allegriwill recall 2.2 million exercise bikes due to the risk of injuries from a seat-related issue, the company said on Thursday, sending its shares down 7%.
"We have identified 35 reports of seat posts breaking out of 2,160,000 units sold in the United States, as of April 30," Peloton said in aDuring the January to March quarter, Peloton said it had accrued $8.4 million as an estimated expense related to "voluntary corrective action plan" involving the defect.on Thursday, said consumers should immediately stop using the recalled exercise bikes and contact Peloton for a free repair.
The seat post can break unexpectedly during use, creating a potential fall and injury risk, Peloton said. There is no impact to Peloton Bike+ Members nor Peloton original Bike owners in the UK, Germany, and Australia, it added.
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