disavows

Amazon disavows $500 “Prime Bike,” says it has no formal connection to the product

Yesterday, exercise company Echelon Fitness announced the “EX-Prime Smart Connect Bike,” or “Prime Bike” — a $500 exercise bike developed “in collaboration with Amazon.” News of the bike’s launch sent the share price of smart bike maker Peloton tumbling, as traders anticipated Amazon’s entry into the growing home exercise market.

But on Tuesday evening Amazon denied it had any formal connection to the so-called Prime Bike. The bike’s listing on Amazon’s website was removed and a press release for the product from Echelon Fitness touting its work with Amazon was deleted.

“This bike is not an Amazon product or related to Amazon Prime,” an Amazon spokeswoman told Bloomberg. “Echelon does not have a formal partnership with Amazon. We are working with Echelon to clarify this in its communications, stop the sale of the product, and change the

Read More