Apple could launch a connected ring by 2026 to compete with Samsung, according to research firm CCS Insight, emphasizing the U.S. tech giant's commitment to health and wellness.
The market research group based in London stated this in its annual predictions report. If this happens, it would mark the first new product launch from Apple since the launch of the Apple Vision Pro headset earlier this year, CNBC reported.
On CNBC's latest Beyond the Valley Tuesday, Ben Wood, chief analyst at CCS, said that health has become a fundamental pillar for the tech giant.
"I would go so far as to say, at the point that Tim Cook decides to relinquish control and he retires... I would like to think that one of his major legacies from Apple would be around personal health," he added.
Talking about the Apple CEO, Wood said, "Given how deeply and personally invested Tim Cook is in health, I think that a ring is a very complimentary extension to Apple."
Wood also highlighted how Apple has been focusing on health with its products, such as the Apple Watch, which, according to Tech Target, became partly popular for its innovations in health monitoring and fitness tracking. He also mentioned the AirPods Pro 2 headphones, which can be turned into hearing aids.
The smart ring functions like a smartwatch since it has sensors that could keep track of different health vitals like the heart rate.
While Oura may be considered a pioneer in this space, Samsung is coming in close following its launch of the Galaxy Ring this year with a price tag of approximately $399. The company is slowly making its way into the health space, further strengthening the position of the South Korean company in the fast-paced and competitive technology arena.
From a retail point of view, rings are quite difficult to sell due to the different finger sizes. Samsung addressed this issue by saying that it would provide sample-size kits to customers before they purchase one.
Wood mentioned that Apple employs a similar approach, aiming to keep its loyal customers engaged within its ecosystem of hardware. According to Wood, adding a ring would enhance that product portfolio even further.
He further said that Apple is quite different from Samsung since its physical retail footprint is large and stylish. This would be an advantage and could greatly help in selling a ring product to customers.
"Apple is a brand that has a certain amount of kudos in terms of being a product that people are proud to have. And I think a beautifully designed ring from Apple could be one of those things that's almost a sort of status symbol," he added.
