- Apple doesn’t seem to be actively developing a smart ring that would compete against the Galaxy Ring and Oura Ring.
- Apple doesn’t want a smart ring to detract from established products like the Apple Watch, especially where there’s still room to grow in the smartwatch space.
Smart rings have been around for a few years now, but they’ve caught the attention of more people thanks to the launch of Samsung’s Galaxy Ring. With Samsung’s entry into the market, rumors of Apple’s interest also started circulating. After all, we’d love to see how the Cupertino-based company integrates a different segment of wearables into its ecosystem. But if you were waiting on an Apple Ring, there’s some bad news: Apple isn’t actively working on one at the moment.
According to a report from Bloomberg, Apple isn’t actively developing a ring and has no plans to launch one. Apple’s lack of interest in the smart ring is because an “Apple Ring” would seemingly detract from most established products like the Apple Watch. There is no reason to cannibalize a product that is said to still have room to grow, especially considering it is the envy of the fitness-tracking industry.
These statements around Apple’s entry were in the context of smart ring leaders like Oura fetching software-like profit margins. These margins are unusual for hardware devices, which are said to fetch gross margins under 50% typically. Although Apple loves its margins too, a jump into the smart ring segment doesn’t seem to be on the cards.
Were you waiting on a smart ring from Apple? Would you like to see the company launch an Apple Ring anyway? Let us know your thoughts in the comments below!