Apple Challenges Peloton by Launching Fitness Subscription Service

Apple (NASDAQ: AAPL) announced many new products at its launch event on Tuesday, including the eighth-generation iPad, a new iPad Air, and the Apple Watch Series 6. But to go along with these new hardware products, the company is launching a new subscription service called Apple Fitness+. It's slated to arrive later this year.

Apple Fitness+ will cost $9.99 per month or $79.99 per year. This pricing is similar to other popular at-home fitness solutions including Peloton Interactive (NASDAQ: PTON). Peloton has two subscription options: one for people who own Peloton hardware ($39 per month) and one for users of the Peloton App ($12.99 per month).

Image source: Apple.

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Source Fool.com