Apple CEO Tim Cook gestures during the annual developer conference event at the company’s headquarters in Cupertino, California, USA on June 10, 2024.
Carlos Barria | Reuters
apple The company could launch a connected ring to rival Samsung by 2026, further increasing the US tech giant’s focus on health, according to CCS Insight.
The call is part of CCS Insight’s annual forecast report, and if it comes to fruition, it would be the Cupertino giant’s first new product since the Apple Vision Pro headset was launched earlier this year.
“Health has become a fundamental pillar for Apple. In fact, I believe that when Tim Cook decided to relinquish control and retire, health was one of the great legacies from Apple. “I think Apple will focus on personal health,” Ben Wood, principal analyst at CCS Insight, said on CNBC’s “Beyond the Valley” podcast on Tuesday.
“Given how deeply and personally invested Tim Cook is in health, I think the ring is a very complimentary extension for Apple,” he said, referring to Apple CEO Cook.
Wood emphasized Apple’s focus on health, from products like the Apple Watch, which is loaded with all kinds of sensors, to the latest AirPods Pro 2 headphones that double as hearing aids.
Similar to smartwatches, smart rings are embedded with various sensors that track health metrics such as heart rate.
While Oura was one of the pioneers in this space, Samsung is poised to push this style of product further into the health sector with the launch of the Galaxy Ring this year, bringing this style of product to more users.
The Samsung Galaxy Ring costs $399 and is an addition to the South Korean tech giant’s product portfolio, from smartphones to smartwatches, as it wants to keep users immersed in their devices.
Apple has adopted a similar strategy for its suite of products, seeking to keep already entrenched customers in its hardware ecosystem. Wood said the ring would add another product to its portfolio.
Rings are complicated from a retail perspective because, unlike other household appliances, people’s fingers are different sizes. Samsung offers rings in a variety of sizes and colors, and users receive a sample size kit before purchasing the ring.
Wood said Apple, unlike Samsung, has a large, stylish brick-and-mortar store that lends itself to any effort to sell Ring products to customers.
“I also think the retail footprint is ideally suited because rings are a complex product to bring to market,” Wood told CNBC.
Rings are also fashion items. Wood said Apple products still have market appeal.
“Apple is a brand with a certain amount of acclaim for having products that people are proud to own, and Apple’s beautifully designed rings have become something of a status symbol. I think it could be,” Wood said. Said.
