Last year, Peloton did a sweeping refresh of its hardware that added cameras, fans, and AI-powered software called Peloton IQ. This year, it's zeroing in on its treadmill lineup - refreshing its two existing Treads and adding the new, more affordable Tread Flex into the fold.

At a New York City launch event, Peloton chief product officer Nick Caldwell told the press the $2,195 Flex - which can be folded upright to save 50 percent more floor space - was meant to address user feedback for a more easily stowed machine. When folded, the Flex purportedly has a smaller overall footprint than the Bike Plus. It also has caster wheels so it can be m …