Sad face for fans of the Segway. The company is ending production of its signature self-balancing scooter, the Segway Personal Transporter. Manufacturing will end on July 15th, and 21 employees will be laid off.
And no, it’s not because of the pandemic/ Since the original Segway’s debut 20 years ago, the market has become saturated. Plus, Segway said the scooter only accounted for 1.5 percent of the company’s revenue.
Time magazine named it one of the top 10 biggest tech failures of the decade, mostly pointing the finger at the hefty price point of $5,000 to $7,000.
The Segway was a common sight at malls and airports, used by law enforcement or security guards. It was also big as a way for tourists to see the sights around cities. And man, it did provide some funny fail videos did it not???
In 2015, Segway was acquired by Ninebot, which has grown to become the predominant supplier of e-scooters, and they’ll continues to develop new, self-balancing vehicles.