Though smart rings with health capabilities have been growing in popularity, Apple has no plans to join the smart ring market, according to Bloomberg's Mark Gurman. While Apple explored the idea, there is no active development of a ring going on at this time, and Apple has no plans to launch a ring.
Samsung's Galaxy RingSmart rings on the market from companies like Oura measure heart rate, track body temperature, and have sleep tracking capabilities, all of which are functions of the Apple Watch. If Apple released a smart ring, it would have the same feature set of the Apple Watch, and it would likely cannibalize Apple Watch sales.
Back in February, Gurman said that Apple's industrial team had suggested that Apple work on a smart ring, with the device possibly serving as a lower-cost alternative to the Apple Watch. Apple executives apparently weren't interested, and active development didn't happen.
Gurman's report followed a February rumor from Korean site Electronic Times, which said that Apple was "speeding up development" of a smart ring that could be used for health tracking. The site claimed that Apple was weighing the idea of a smart ring as an expansion of its wearables lineup, but those rumors may have been spurred by Samsung's Galaxy Ring.
Samsung introduced the Galaxy Ring in July alongside new foldable smart phones. Designed to work only with Galaxy devices, the Galaxy Ring tracks movement, sleep, heart rate, and respiratory rate, providing users with a daily sleep score and an energy score.
New devices from Samsung can spur rumors about Apple products because the two companies typically compete in the same markets, but there are some instances where Apple has not followed in Samsung's footsteps. Samsung has had foldable smartphones for years now, and Apple still seems to have no concrete plans for a foldable iPhone.
There have been Apple patents for ring-like devices, and those patents have also led to "iRing" rumors, but Apple patents all kinds of strange things that never make it to launch.
Gurman is a reliable source for information on Apple's future plans, but there are some who still seem to think an Apple ring is coming. CCS Insight told CNBC just this week that Apple might launch a "connected ring" to rival Samsung by 2026.
Rather than launching a ring, Apple may instead lower the price of the Apple Watch. The next-generation Apple Watch SE that's slated for 2025 is expected to include a plastic casing that could bring lower costs and more appeal to customers looking for something cheap and durable, either for themselves or for their children.
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