Apple Inc. (NASDAQ:AAPL) is reportedly planning to launch a health-focused smart ring by 2026, according to a forecast by analysts at CCS Insight.
What Happened: CCS Insight's annual forecast suggests that Apple's smart ring, similar to smartwatches, would be equipped with sensors to monitor health metrics such as heart rate, reported CNBC.
Ben Wood, chief analyst at CCS Insight, highlighted Apple's commitment to health and wellness, stating that a smart ring would be a logical extension of the company's product line.
Despite the challenges of retailing rings due to varying finger sizes, Wood believes Apple's extensive retail network could facilitate the sale of such a product.
"Health has become a fundamental pillar for Apple. In fact, I would go so far as to say, at the point that Tim Cook decides to relinquish control and he retires," he said on Tuesday, adding, "I would like to think that one of his major legacies from Apple would be around personal health," according to the report.
Wood highlighted Apple's commitment to health-focused technology citing the sensor-rich Apple Watch and latest AirPods Pro 2, which can function as hearing aids.
Like smartwatches, smart rings are equipped with sensors to monitor health metrics such as heart rate.
"I think a beautifully designed ring from Apple could be one of those things that's almost a sort of status symbol," he said, according to the report.
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Why It Matters: Apple's potential entry into the smart ring market isn't entirely surprising. In March earlier this year, Apple filed a patent for a smart ring capable of detecting gestures, including those used in the game "Rock, Paper, Scissors."
This latest development comes in the wake of Samsung Electronics Co Ltd's (OTC:SSNLF) launch of the Galaxy Ring earlier this year.
Priced at $399, the Samsung Galaxy Ring tracks fitness, sleep, and women's menstrual cycles, and lasts up to a week on a single charge.
The Galaxy Ring, offered in nine different sizes, comes with fitting kits and stands out from the more affordable Oura ring by not requiring a subscription.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo courtesy: Apple
