LISBON — The CEO of health-tech firm Oura informed CNBC that Apple has no plans to release a smart ring, despite rumors suggesting the tech giant might be exploring this product category. Samsung’s introduction of a smart ring earlier this year has drawn attention to the product, with an analyst previously speculating that Apple could unveil its own smart ring by 2026.
Tom Hale, CEO of Oura, which has been working on smart rings since its establishment in 2013, expressed his belief that Apple will not venture into this market. In an interview at the Web Summit in Lisbon, Portugal, Hale stated, “I think they [Apple] 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 added, “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.” Under the leadership of CEO Tim Cook, Apple has emphasized health applications through the Apple Watch and associated services.
A smart ring is a wearable device equipped with sensors that provide the wearer with information about their health, activity, and sleep. Fans of smart rings praise their lightweight design and long battery life, making them suitable for all-day wear, including during sleep, unlike smartwatches that may be less comfortable and removed more frequently.
“Apple is very much a focused company. They’re like: ‘We’ve put our bet on the watch. We’re gonna make the watch our platform,'” Hale remarked. Oura recently unveiled its latest model, the Oura Ring 4, as competition in the wearable technology sector intensifies.
