Peloton falls after being hit with U.S. import ban over streaming tech

Rexon Industrial

09/03/2023 12:09

** Fitness equipment maker Peloton Interactive Inc  PTON.O 
shares down 2% 
    ** U.S. ITC bans imports of video-streaming fitness devices
made by PTON and iFit Inc after judge found they infringed Dish
Network Corp  DISH.O  patents  urn:newsml:reuters.com:*:nL1N35G31K
    ** Dish accused PTON and iFit of infringing four patents for
video-streaming technology through imports of products that
stream at-home fitness content
    ** President Joe Biden's administration has 60 days to
review the import ban before it takes effect 
    ** PTON on July 2022 ceased all in-house production of its
equipment and moved manufacturing to Taiwan-based Rexon
Industrial Corp  1515.TW  
   ** YTD, PTON stock up 71% vs. 78% drop in 2022  

 (Reporting by Pratyush Thakur)
 ((Pratyush.Thakur@thomsonreuters.com))