Will Apple release a smart ring? Oura CEO says no

“Well, Apple could be developing an even smaller wearable device — a smart ring. The tech titan published a patent application for a finger mounted device with many features similar to those of the Apple Watch but will this device actually make it into consumer hands?”

[CRAIG NIGRELLI]

THAT REPORT FROM CNBC WAS FROM OVER NINE YEARS AGO – AND STILL APPLE HAS NOT RELEASED A SMART RING. REPORTS AND RUMORS HAVE CONTINUED OVER THE PAST DECADE ON IF APPLE WILL JOIN OTHER COMPANIES IN ADDING THIS WEARABLE TECH TO ITS LINEUP.

BUT ACCORDING TO ONE MAN WELL VERSED IN THE SMART RING SPACE – DESPITE ALL THE TALK — HE BELIEVES APPLE IS NOT LAUNCHING ONE ANY TIME SOON.

OURA CEO TOM HALE SPEAKING TO CNBC TUESDAY AT THE WEB SUMMIT IN LIBSON PORTUGAL.

HALE SAYING HE DOES NOT THINK APPLE WILL BE ENTERING THE SMART RING GAME –

INSTEAD HE BELIEVES APPLE WILL LOOK TO GROW IN THE WEARABLE MARKET BY FOCUSING ON ITS WATCH LINEUP – WHICH APPLE FIRST RELEASED IN  2015.

HALE SAYING QUOTE “I think they are unconvinced about the value of having a ring and a watch together and they’re not interested in undercutting the Apple Watch as a business.

“I think they’re probably keeping a close eye on Samsung and a close eye on us, but it’s hard to do this product category right.”

OURA AND SAMSUNG ARE THE TWO BIG PLAYERS WHEN IT COMES TO SMART RINGS.

OURA – WHICH HAS BEEN DEVELOPING ITS SMART RINGS SINCE 2013 – RECENTLY LAUNCHED ITS LATEST UPGRADE — OURA RING 4.

HALE SAYING IN AN INTERVIEW LAST MONTH THAT OURA DISTINGUISHES ITSELF FROM OTHER TECH BRANDS BECAUSE IT SEES ITSELF AS MORE OF A HEALTH COMPANY.

[TOM HALE]

“A smart ring is a great wearable because it’s comfortable, it’s small, you can wear it at night and not feel it. You barely notice you have it on. Plus, it looks like jewelry so it fits into whatever wardrobe you have on. But it’s more than just a sleep tracker, it’s a full complete solution for preventive health and across whether it’s sleep, heart health, women’s health, stress, resilience, all these factors, the device is tracking your health and giving you the feedback to make healthy choices along the way.”

[CRAIG]

OURA GOT SOME MAJOR COMPETITION EARLIER THIS YEAR WHEN SAMSUNG DEBUTED ITS GALAXY RING.

WHILE ANYONE CAN WEAR ONE – REVIEWERS SAY IT’D BE “SMART” TO HAVE OTHER SAMSUNG PRODUCTS TO ACCOMPANY YOUR GALAXY RING.

IN ITS REVIEW OF THE GALAXY RING THE VERGE WRITES, “There’s no point in beating around the bush. The Galaxy Ring is made with Samsung users in mind…Its full potential requires other Samsung products. You’ll have an easier, more accurate health tracking experience when you use it with a Galaxy Watch…In other words, it’s less of a Galaxy Watch alternative — it’s an accessory for it.”

ONE OTHER BIG COMPONENT TO COMPARE BETWEEN THE TWO  – THE PRICE. THE GALAXY RING COSTS THREE HUNDRED AND NINETY NINE DOLLARS – THE OURA RING 4 STARTS AT THREE HUNDRED AND FORTY NINE DOLLARS.  

BOTH BRANDS ARE TOP NAMES IN A GROWING TECH SEGMENT WITH GLOBAL MARKET INSIGHTS SAYING SMART RINGS BROUGHT IN 210 MILLION DOLLARS IN 2023.

NOW AS FOR APPLE – LAST MONTH WE GOT SOME CONTRADICTING REPORTS –   BLOOMBERG’S MATT GURMAN SAYING APPLE ISN’T ACTIVELY DEVELOPING A SMART RING AND HAS NO PLANS TO LAUNCH ONE.

BUT A POST ON A KOREAN BLOGGING SITE PICKED UP BY MULTIPLE WEBSITES ALERTED THAT APPLE IS WORKING ON ONE.

ADDING TO THAT SPECULATION —  MARKET RESEARCHER CCS INSIGHT — IN ITS ANNUAL PREDICTIONS REPORT – SAYS APPLE COULD LAUNCH A SMART RING BY 2026.

STRAIGHT ARROW NEWS HAS REACHED OUT TO APPLE FOR COMMENT –

– SO FOR NOW–  WE’LL AWAIT APPLE TO GIVE US A “RING.”

FOR STRAIGHT ARROW NEWS, I’M CRAIG NIGRELLI.

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