Segway to quit making iconic 2-wheel scooter
Product made up just 1.5% of Segway's sales in 2019
Segway announced Wednesday it is discontinuing its famous Segway PT model scooter.
The Segway PT, which s self-balancing and has two wheels and one central handlebar, has been popularized by tourists and law enforcement.
"In recent years, we have seen an over-saturation of the market for Segway PTs. They are an extremely durable vehicle, with many that are 10 years or older still on the road," the company said in a press release.
Segway has been shifting its business away from the Segway PT, which made up less than 1.5 percent of the company's revenue in 2019, and toward "consumer products, such as [its] shared scooter business, Segway Powersports and Segway Robotics."
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The Segway PT will officially retire on July 15, along with the Segway SE-3 Patroller and the Segway Robotics Mobility Platform, the company said.
As a result of the discontinuation, 21 people will be laid off immediately with severance packages and 12 others will be kept on for a minimum of two months and a maximum of one year.
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Segway said its partnerships with Amazon, Costco, Target, Best Buy and local retailers will continue with its consumer products. The company already "provides high standard services, supplying 70 [percent] of the global scooter industry to downstream customers in the micro-mobility area, including Spin and Lyft."
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