Oura CEO predicts Apple isn’t making a smart ring because ‘it’s hard’
Despite occasional and somewhat persistent rumors about an Apple Ring, the CEO of the most well-known smart ring maker isn’t concerned. In fact, he doesn’t think Apple will enter the category at all.
In a recent interview with CNBC at the Web Summit in Lisbon, Portugal, Oura CEO Tom Hale predicted that Apple likely won’t enter the smart ring space—not because it’s unprofitable but because it’s difficult.
“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 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 may very well prove correct, but a smart ring doesn’t have to cannibalize Apple Watch sales. If the price and positioning are correct, and Apple ring could augment the Apple Watch with new sensors or data collected when the watch is charging or not being worn.
Apple has been rumored to be exploring the launch of a smart ring for years but little solid information has turned up to suggest an actual product is anywhere near production. However, Apple has made health tech a top priority recently, including adding a Hearing Protection and Hearing Aid features to the AirPods Pro. There have also been persistent rumors that Apple is planning to add more health features to the AirPods, such as heart-rate monitoring.
The Oura Ring 4 has a battery that lasts longer than a week and tracks “more than 20 biometrics” throughout the day, including sleep, steps, and blood-oxygen levels. Samsung also recently entered the smart ring market with its own Galaxy Ring for $400.
