From Bloomberg: The move is an about-face from Peloton's strategy over the past three years, when it split manufacturing between its own facilities and partners. The company previously canceled a plan to build its equipment near Toledo, but now it's walking away from in-house production altogether.
Peloton is switching gear to try and cut its costs, with a plan to use Apple's suppliers and other external firms to construct its fitness products rather than relying on its own factories.
Peloton’s took a $182 million hit in its previous fiscal quarter as inventory levels ballooned and consumer demand for its bikes and treadmills waned.