Smart watches and other gizmos that track your health and fitness were all the rage. Now, their popularity has cooled off and sales are flat or even declining—except for one category, which has doubled. That’s according to Tom Hale, who leads the smart ring firm Oura, whose flagship $349 Ring 4 device is enjoying a surge of consumer demand, especially from women.
“Last year wrist-borne wearables actually shrank, there was a shift to smaller cheaper wrist-borne wearables primarily driven in India and in Asia while Ring wearables, we basically doubled in size,” Hale said on Monday, speaking at Fortune’s Brainstorm Tech conference in Park City, Utah. “So we’re growing at north of 100%.”
