Julie Clover
Oura CEO Tom Hale doesn't believe Apple is planning to enter the smart ring market, as an Apple-designed smart ring could cannibalize sales of the Apple Watch.
In an interview with CBNC, Hale said Apple is likely “not convinced of the value of the ring and watch combination,” and that while the company is likely keeping a close eye on both Oura and Samsung, an Apple smart ring is unlikely to happen because “it's a difficult product category to get right.”
Oura recently launched the Oura Ring 4, a product capable of tracking movement, fitness, health, stress, and sleep. Oura is one of the most well-known companies in the smart ring space, and it first released a ring back in 2015.
Apple has been rumored to be exploring the idea of a smart ring, but the company reportedly has no plans to release one at this time. Back in October, Bloomberg's Mark Gurman said that no ring was in active development.
Apple is said to be concerned about dwindling Apple Watch sales, since the smart ring would have many of the same features as the watch. Apple's industry group has proposed a smart ring that would be a cheaper alternative to the Apple Watch, but Apple executives have shown no interest.
If smart rings take off, Apple may decide to develop one after all. Back in July, Samsung released the Galaxy Ring, a device that works with Galaxy devices to track movement, sleep, heart rate, and breathing rate, giving users a daily sleep score and energy level assessment.
Apple has patented ring-like devices, leading to rumors of an “iRing,” but Apple often patents all sorts of products that never make it to launch.
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