Segway’s iconic (and oft-ridiculed) self-balancing scooter is ending production
Fast Company. Given that the initial Segway’s debut 20 years back, the market has ended up being saturated with electric-powered two-wheelers of numerous varieties. Segway stated the oft-ridiculed and renowned scooter only accounted for 1.5 percent of the company’s revenue. However the coronavirus pandemic and the resulting interruption in global manufacturing and supply chains were not factors, the company said.
“Given our decades-long history, we acknowledge that this decision might come as a disappointment to our loyal and strong following among private owners, who see the Segway as one of the more ingenious creations of the early 21st century,” Segway president Judy Cai said in a declaration. “We are grateful for the assistance and loyalty of our customers and are happy of the effect our products have actually made on our clients’ lives and the credibility of the Segway brand.”
In 2015, Segway was acquired by Ninebot, the Chinese competitor that Segway formerly accused of copying its signature scooter. Given that then, the company has actually grown to end up being the predominant provider of e-scooters to the burgeoning shared scooter industry. And it continues to develop brand-new, self-balancing cars, like the egg-shaped S-pod that debuted at this year’s CES.
The Segway was a common sight at malls and airports, utilized by police or security personnel. It was also frequently seen transporting herds of tourists around certain cities. The business constantly had a hard time to discover clients. Faced with diminishing income, Segway ended up being sold two times to investors, when in 2009 and then again in 2013. The very first, British investor, Jimi Heselden, died in a paradoxical, terrible Segway crash in 2010, and the 2nd, Summit Strategic Investments, intended to “refocus”Segway over numerous years, but that task was never finished.
Segway announced Tuesday that it is ending production of its signature self-balancing scooter, the Segway Personal Transporter (PT). Manufacturing at the company’s Bedford, New Hampshire, factory will end on July 15th, and 21 employees will be laid off. The news was first reported by
When the product introduced, the head of Segway said it “will be to the automobile what the automobile was to the horse and buggy.” However almost instantly, those forecasts gave way to ridicule. Time publication named it one of the top 10 most significant tech failures of the years, citing its inflated rate point ($5,000 to $7,000) and its complicated classification as a roadway vehicle needing licensing in some countries.
Since the initial Segway’s launching 20 years ago, the market has actually become saturated with electric-powered two-wheelers of many ranges. Segway stated the iconic and oft-ridiculed scooter just accounted for 1.5 percent of the business’s profits.”Given our decades-long history, we acknowledge that this decision may come as a dissatisfaction to our strong and loyal following amongst personal owners, who view the Segway as one of the more innovative developments of the early 21st century,” Segway president Judy Cai said in a statement. In 2015, Segway was gotten by Ninebot, the Chinese rival that Segway previously accused of copying its signature scooter.