Oura Ring 4.
Courtesy: Oura
Lisbon — apple The CEO of health tech company Oura told CNBC that Apple will not launch a smart ring, despite speculation that the iPhone giant may be considering entering the product category.
Samsung’s launch of a smart ring earlier this year put the product firmly in the spotlight, and earlier this year an analyst predicted that Apple could launch its own smart ring in 2026.
But Tom Hale, CEO of Oura, which has been developing smart rings since its founding in 2013, said he doesn’t think Apple will enter the space.
“I don’t think they (Apple) believe in the value of a ring and a watch combined, and they’re not interested in undercutting the Apple Watch business,” Hale told CNBC on Tuesday at the Web Summit in Lisbon, Portugal.
“I think they’re probably watching Samsung and us closely, but it’s hard to do well in this product category.”
Under the leadership of CEO Tim Cook, Apple has focused on health applications through Apple Watch and related services.
A smart ring is a wearable device full of sensors that can provide the wearer with information about his or her health, activity, and sleep. They’re lightweight and have long battery life, which fans say makes them ideal for wearing all day long, including while sleeping, whereas smartwatches can be less comfortable and therefore easier to take off.
“Apple is a very focused company. They were like: ‘We’re betting on the watch. We’re going to make the watch our platform,'” Hale said.
As competition in the wearable device space intensifies, Oura recently launched the next generation Oura Ring 4.
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