Peloton taps Apple suppliers in major production shift

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 has been struggling to keep costs down amid talks of a potential buy-out or investment from a major company like Apple or Amazon. In its latest bid to reduce its outgoings, the firm is apparently turning to companies that work with Apple in assembling products.Instead of splitting manufacturing between its own facilities and partners, Bloomberg reports it will stop production at facilities acquired in 2019 in favor of relying solely on third-party firms. Work performed by facilities operated by subsidiary Tonic Fitness Technology will instead be solely performed by existing partner Rexon. Read more...