The Segway is a two-wheeled, self-balancing personal transporter invented by Dean Kamen and brought to market in 2001 as the Segway HT, subsequently as the Segway PT, and manufactured by Segway Inc. HT is an initialism for "human transporter" and PT for "personal transporter." Ninebot, a Beijing-based transportation robotics startup rival, acquired Segway Inc. in April 2015, broadened the company to include other transportation devices, and announced in June 2020 it would no longer make a two-wheeled, self-balancing product. History Independent company The Segway PT, referred to during development and initial marketing as the Segway HT, was developed from the self-balancing iBOT wheelchair which was initially developed at University of Plymouth, in conjunction with BAE Systems and Sumitomo Precision Products. Segway's first patent was filed in 1994 and granted in 1997, followed by others, including one submitted in June 1999 and granted in October 2001. Prior to its introduction, a news report about a proposal for a book about the invention, development, and financing of the Segway led to speculation about the device and its importance. John Doerr speculated that it would be more important than the Internet. South Park devoted an episode to making fun of the hype before the product was released. Steve Jobs was quoted as saying that it was "as big a deal as the PC", (he later expressed a negative opinion, saying that it "sucked", presumably referring to "the design" - but also referred to the (presumably high) price point, asking, "You're sure your market is upscale consumers for transportation?") The device was unveiled on 3 December 2001, following months of public speculation, in Bryant Park, New York City, on the ABC News morning program Good Morning America, with the first units delivered to customers in early 2002. The original Segway models featured three speed settings: , with faster turning, and . Steering of early versions was controlled using a twist grip that varied the speeds of the two motors. The range of the p-Series was on a fully charged nickel metal hydride (NiMH) battery with a recharge time of 4–6 hours. In September 2003, the Segway PT was recalled, because if users ignored repeated low battery warnings on the PTs, it could ultimately lead them to fall. With a software patch to version 12.0, the PT would automatically slow down and stop in response to detecting low battery power. In August 2006, Segway discontinued