- Apple Inc AAPL plans to expand its $9.99-per-month Fitness+ service from six to 21 countries later this year and grabbed more air time than Apple's updated entry-level iPad at the September live event, Bloomberg reports.
- Apple's deal renders Peloton Interactive Inc's PTON as costlier.
- Peloton's workout classes cost a minimum of $12.99 per month and mandate the combination with one of the company's four-figure stationary bikes or treadmills. In contrast, Apple seeks its only necessary hardware, Apple Watch.
- Apple aims to add group workouts to compete with friends, tracking progress via the Watch and seeing it live on iPhone, iPad, or Apple TV.
- Apple aims to sell more of its gear by the strategy. However, it could also be an optional upgrade as many already possess multiple Apple gadgets, spelling doom for fitness startups.
- The report added that Apple fitness service's barrier to entry is drastically lower as it has the scale to explore price points at its whims and the most extensive marketing megaphone.
- Related Content: Apple's Key Product Announcements: iPhone 13 Models, New iPad, Improved iPad Mini, Apple Watch Series 7
- Price Action: PTON shares traded lower by 1.29% at $103.57 on the last check Friday.
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