A new rumor, albeit sketchy, has surfaced online suggesting the Apple ring is in the works and could soon see the light of day. According to a report from ETNews, Apple is gearing up to showcase its first smart ring, and it will launch sooner rather than later.
The report states that Apple has been releasing smart ring-related patents for several years, and it’s likely that the wearable has reached the advanced development stage, suggesting its commercialization appearance is imminent. While the report hints that Apple is getting close to launching the device, it doesn’t know when exactly the company plans to release it.
However, when it comes to making accurate predictions about upcoming Apple products, ETNews doesn’t have a reliable track record. Thus, an imminent debut of the device is in doubt, as there are no further reliable rumors or leaks regarding the purported smart ring, which you would expect from a soon-to-arrive Apple product.
Why Would Apple Want to Launch a Smart Ring?
After smartwatches, smart rings are slowly gaining popularity among health-conscious folks for obvious reasons. If you don’t like the clunky build of a smartwatch or simply prefer a traditional watch, a lightweight and discreet smart ring is your best option.
According to Business Research Insight, the value of the worldwide smart ring industry might grow ten times in only eight years, going from $20 million in 2023 to over $200 million by 2031. Therefore, there is no doubt that a smart ring is a potentially fast-growing market.
However, there are only a few manufacturers that make and sell smart rings, such as Oura and Ultrahuman, among others. Sensing an opportunity here, many bands, including Samsung, are also working on a smart ring.
Considering the demand for wearables, the growth potential, and low competition, it doesn’t come as a surprise that Apple would want to throw its hat (or rather, its ring) in the ring.