CCSInsight predicts that Apple may launch a smart ring to compete with Samsung by 2026, which will increase the US technology giant's focus on the health field. The prediction is part of CCSInsight's annual forecast report, and if it comes true, it will be Apple's first new product since the launch of the Apple Vision Pro headset this year.
"The health business has become a fundamental pillar of Apple," CCSInsight principal analyst Ben Wood said in an interview on Tuesday. "In fact, I would even go as far as to say that when Tim Cook decides to give up control and retire... I think one of his main legacies from Apple will be the personal health business."
"Given Cook's investment in health, I think this ring is a very beneficial extension for Apple," he said.
Wood emphasized Apple's focus on health, from the Apple Watch with all its sensors to the latest AirPods Pro 2 headphones that can be turned into hearing aids.
Similar to smart watches, smart rings are embedded with various sensors that can track health indicators such as heart rate.
Oura was one of the pioneers in the field, but Samsung launched the Galaxy Ring this year to bring this style of product to a wider audience as it looks to make a bigger push into the health space.
The Samsung Galaxy Ring, priced at $399, is another addition to the Korean tech giant's product portfolio that ranges from smartphones to smartwatches.
Apple has adopted a similar strategy with its product suite, trying to keep already sticky customers within its hardware ecosystem. Wood said the smart ring will add another product to their product portfolio.
Unlike other consumer electronics, smart rings are complicated from a retail perspective because people have different finger sizes. Samsung has rings in a variety of sizes and colors, and users will receive a sample size kit before purchasing the ring.
Wood said the difference between Apple and Samsung is that Apple has large and stylish physical retail stores, which helps sell rings to consumers.
"I also think their retail footprint is a good fit for it because rings are a complex product and difficult to get into the market," Wood said in an interview.
Smart rings are also fashionable items. Wood said Apple's products still have traction in the market.
"Apple is a brand that has a certain reputation and is a product that people are proud of. I think Apple's beautifully designed rings can be a status symbol," Wood said.
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