Internet fitness platform Peloton will offer refurbished bikes with a maximum discount of $500.

Beijing, Dec. 27 (Xinhua)-- US Internet fitness platform Peloton said on Monday that it will offer refurbished bikes in the continental United States and Canada, offering discounts of up to $500 compared to new bikes.

The project, called Peloton Certified Refurbished, a Peloton-certified refurbished product, will offer models priced between $1145 and $1995 with the same 12-month warranty as the new bike.

During the COVID-19 epidemic, the fitness equipment maker was all the rage among fitness enthusiasts, and the company's market valuation peaked at nearly $50 billion in early 2021.

However, as people return to the gym, demand for the company's fitness equipment has fallen, and its market capitalization has now fallen to $3.02 billion.

Earlier this year, the company expanded its leasing program in the United States, allowing consumers to choose models such as the Peloton Bike and Bike+ on a monthly basis.