Oura CEO Tom Hale believes Apple won’t be entering the smart ring game. He told CNBC Tuesday, Nov. 12 at the Web Summit in Lisbon, Portugal, that Apple will look to grow in the wearable tech market by focusing on its watch lineup.
“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,” Hale said.
“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,” Hale continued.
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 version, Oura Ring 4.
In an interview with CNBC last month, Hale said Oura is distinguishing itself from other tech brands because it sees itself as more of a health company.
“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,” Hale said. “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.”
Oura received 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.
The Verge recently reviewed the ring.
“There’s no point in beating around the bush,” The Verge said in its review. “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 is the price. The Galaxy Ring costs $399, while the Oura Ring 4 starts at $349. Both brands are top names in a growing tech segment. Global Market Insights said smart rings brought in $210 million in 2023.
As for Apple, some contradicting reports came to light in October 2024. First, Bloomberg’s Matt Gurman said 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, said Apple could launch a smart ring by 2026.
Straight Arrow News has reached out to Apple for comment.
