Apple has been rumored to be working on a smart ring, with research firm CCS Insight anticipating an Apple Ring until 2026.
But Tom Hale, CEO of Oura, the market leader in smart rings with a valuation of 2.5 billion dollarssays an Apple Ring is unlikely to arrive — at all — because it could cut into Apple Watch sales.
“I think they (Apple) aren't convinced of the value of having a ring and a watch together and they're not interested in diminishing the Apple Watch as a business,” Hale. told CNBC in an interview on Tuesday.
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Samsung, an Apple competitor with a line of smartwatches, introduced a smart ring in July, Galaxy Rings. She has one higher initial cost ($399) than Oura Ring (299 dollarsthere is more $5.99 per month subscription) but not subscription.
Hale said Apple will not follow Samsung's example.
Oura CEO Tom Hale. Photo by Horacio Villalobos Corbis/Getty Images
“I think (Apple) is probably looking closely at Samsung and us, but it's hard to get this product category right,” Hale added.
Smart rings are an alternative to smartwatches and other wearables that can track sleep, heart rate and other biometrics. Hale said Oura stood out from competitors like Apple in accuracy.
The finger is “the most accurate location to track your biometrics,” Hale said. He called smartwatches that measure the same elements on the wrist “less accurate” and said Oura can predict whether users will get sick three days in advance.
“It feels like magic,” he said.
Oura ring. Credit: Business Wire
or STUDY released in October by researchers from Brigham and Women's Hospital measured the sleep accuracy of the Oura ring compared to the Apple Watch and Fitbit Sense. Researchers discovered that the Oura Ring was the most accurate sleep tracker.
Apple has the biggest grip on the smartwatch market compared to companies like Samsung and Fitbit, with almost 20% of the global market in the second quarter of 2024.
Oura is the biggest player in the smart ring market, with 52% of the market and over 2.5 million rings sold since it was founded in 2013. The company releasing a new generation of smart rings last month.